Rudi Jagersbacher, president MEA Turkey, at Hilton Hotels Group at the 2019 Arabian Travel Market exhibition in Dubai. Antonie Robertson/The National
Rudi Jagersbacher, president MEA Turkey, at Hilton Hotels Group at the 2019 Arabian Travel Market exhibition in Dubai. Antonie Robertson/The National
Rudi Jagersbacher, president MEA Turkey, at Hilton Hotels Group at the 2019 Arabian Travel Market exhibition in Dubai. Antonie Robertson/The National
Rudi Jagersbacher, president MEA Turkey, at Hilton Hotels Group at the 2019 Arabian Travel Market exhibition in Dubai. Antonie Robertson/The National

Hilton to double Middle East portfolio and enter new markets


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Hilton, the New York-listed global hotels company, plans to double its portfolio in the Middle East to around 160 hotels over the next three to five years, with growth driven by Saudi Arabia, the UAE and several key African markets, its regional president said.

"We are extremely strong in Saudi Arabia and the UAE, while new entries in Tunisia, Nigeria and Morocco are performing well," said Rudi Jagersbacher, president for Middle East, Africa and Turkey at Hilton, told The National in an interview. Average hotel revenues across the portfolio rose in the past 12 months, though not as much as they did in 2017 or earlier, he added.

He declined to provide figures as the publicly listed company is due to report its first-quarter 2019 financial results in the coming days. Average revenue per available room (RevPAR) across Hilton’s Middle East and African portfolio increased by 1.8 per cent annually in full-year 2018, and global average RevPAR is expected to grow by between 1 and 3 per cent in 2019, the company said in a bourse filing in February.

Hotel revenues and room rates across the Middle East and North Africa have declined in recent years due to rising supply and lower oil prices denting consumer purchasing power.

Hilton has around 150 hotels in the Middle East, Africa and Turkey and 160 more in its pipeline, equating to an additional $9 billion of development value, Mr Jagersbacher told The National. The UAE portfolio is set to double in three to five years, while the Saudi Arabia portfolio will more than quadruple in the same period to over 50 from 12 today. There are currently 34 new hotels in the Saudi pipeline and Hilton recently signed to open another six.

Planned growth in religious tourism is a particular draw for Hilton, Mr Jagersbacher said. Saudi Arabia aims to attract 30 million pilgrims by 2025 as part of plans to boost the tourism sector under the Vision 2030 economic diversification roadmap.

As well as targeting new countries in Africa to spur future growth, Mr Jagersbacher is eyeing re-emerging markets including Syria, Iraq and Pakistan. “There are definitely big opportunities as they develop into economically viable and compliant states, and we want to be represented there,” he said.

“Take Syria and Iraq – a lot of money is going into rebuilding those countries and inevitably they will need hotels.” Any plan to enter such markets would require rigorous due diligence and careful planning.

He also expects increased take-up of Hilton franchises in the Middle East – a business model that has been slow to take off in the region’s hospitality market. Hilton’s three hotels at Al Habtoor City in Dubai – totalling 1,600 rooms – are franchised, and the practice “will definitely grow”.

There are no plans for acquisitions of smaller hotel companies in the region as Hilton marks its 100th year of operation in 2019, Mr Jagersbacher added. “We believe in organic growth globally and regionally, we have a strong global brand, and don’t see any opportunity in buying another company,”

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Engine: 2.0-litre 4cyl turbo

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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

While you're here
PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

UAE currency: the story behind the money in your pockets