Chairman of Misr Hotels Company, affiliated to Public Business Sector, the owner of Nile Hilton Hotel Fathy Nour said that last round of negotiations between International Management companies and the company would commence in September and it is expected to end in October for clinching up the process of selecting the new management for the famous hotel.
Nour the representative of owners made it clear that the present company contract expires next year 2008 and the Misr Hotels excluded more than 7 International Management companies since it began the process of selection of new managing company with the approachment of end of Hilton contract.
The clinching up negotiations is involving three international management companies only, namely Hilton, Marriott and Starwood. It is expected that the last rounds would witness many unexpected surprises, where each company would utilize all technical and marketing potentials to win the most important and famous hotel among hotels of Public Business Sector, which generates a net profit not less than 50 million Egyptian Pounds annually.
Fathy Nour confirmed that there is a set of world regulations and criteria that are governing the process of selection of new management for the hotel that is classified as 5 stars, most of which the world reputation, experience of management and number of hotels operated on the world level, particularly inside large cities and capitals like Cairo, quality of training programs executed for the employees, technical and skilful experience, usage of modern programs for reducing costs of international marketing for its hotels professionally.
One of the key factors in selection of the managing company is its share of hotel profits and determination of limited profit margin against management.
Chairman of Misr Hotels, the owner of the hotel disclosed that he is expected that the last round of negotiations would result in settling the hotel management contract over one of the three companies by the technical committee formed from various experiences from members of the board of directors of the Holding Company for Tourism, Cinema and Misr Hotels by end of October as maximum.