PHMG to run serviced apartments in 10th of Ramadan City
Tredco El Sayad aims to expand management business into 50 serviced apartments in10th of Ramadan
Prime Hospitality Management Group (PHMG) has contracted to manage new serviced units owned by Tredco El Sayad Company, affiliated to El Sayad Group, in the 10th of Ramadan City
It comes as part of the PHMG’s expansion plan into new markets and cities.
PHMG specialises in managing branded and serviced units, as well as renting and managing apartments furnished with the hotel system, known worldwide as "vacation houses".
CEO of PHMG Moataz Amin said that the company started its expansion plan with hotel management for a new project in10th of Ramadan City. It was a serviced studios project with a total of six units. This project is the first of its kind in10th of Ramadan.
Amin added that despite the city's importance as an industrial city, there is a growing demand from businesspeople and managers in various factories for serviced units. The new units were the first for the group under the brand Prime Inn.
He pointed out that PHMG’s expansion plan focuses on new areas where there is no such type of high-quality, integrated hotel projects.
He elaborated that these units are available for short- and long-term rent according to client's desire. They also come with maintenance, security, cleaning, and other services necessary for a luxurious life, as well as a swimming pool within the project.
Vice Chairman of Tredco El Sayad, Sherif El Sayad, said that the company has developed serviced apartments in 10th of Ramadan City and decided to cooperate with PHMG to take over hotel management of this project.
El Sayad added that this project is the latest business of Tredco El Sayad.
He explained that the company is investing in this city due to the scarcity of such products in the city and in industrial cities in general.
“It is planned to start trial operation of the units after the Eid Al-Fitr holidays. This project will be the beginning of a series of serviced and branded apartment projects in 10th of Ramadan City,” El Sayad said, “The management contract with Prime Group will expand into 50 new serviced units in the city besides more 30 serviced units in 6th of October City within two years.”
He highlighted the importance of identifying and meeting market and customer requirements in order to acquire a larger market share and increase the company's customer base.
“A successful company is one that is operating in areas of strong demand but lack supply,” he added.
PHMG undertakes hotel management of units whose owners wish to lease them, whether individuals or companies, and achieve a return on investment from them, especially with the group's expertise in hotel management. The total number of serviced and branded units that the group currently manages is 127 units distributed among 4 Brands Prime Residence, Prime Holidays, Prime Inn, and Prime Select at several regions in Cairo, North Coast, Ain Sokhna, and soon in El Gouna.
