Egyptian Resorts Expects Tourism to Boost Land Sales in 2011, CEO Says | Bloomberg
Egyptian Resorts Co., the second- biggest publicly traded Red Sea resort developer, expects a recovery in tourism to boost sales of land in its Sahl Hasheesh project in 2011, Chief Executive Officer Mohamed Kamel said. “We’re basing our optimism on sales in 2011 on more hospitality business,” Kamel, 31, said in an interview at his office in Cairo yesterday. “What we are seeing is despite the sentiment on the residential market is that hospitality is not suffering as much. Tourism figures speak for themselves.”
