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Sovereign Hospitality Holdings (SHH) plans to grow its portfolio by buying 32 hotels in 10 different countries over the next three years. "Our main strategy is to acquire Greenfield Properties," says Mohamed Fahmy, chief executive of Switzerland-based SHH. "We also want to renovate and add value, whether by rebranding, repositioning or investing capital to update the hotel."
SHH has its roots in Egypt, with its existing portfolio containing hotels from North Africa and the Middle East. Fahmy says he's looking for a design team that can use local resources to make sure SHH is getting the best deal. Environmentally sound hotel design is also a priority. "It's a source of cost savings," he says. "The green approach in itself is very important because the consumer understands it. I'm convinced that we attract more business if we are more environmentally friendly."
And which location is Fahmy looking to develop next? "We're very excited about Croatia. I feel we're slightly late -- it would have been better two or three years earlier. There's a lot happening on the Adriatic coast."
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