Muscat: Orascom Development announces the appointment of Stuart Leven as Chief Executive Officer of Orascom Hotels Management (OHM), the wholly owned subsidiary responsible for most hotel operations of the leading international developer of vibrant, integrated communities in Europe, the Middle East and North Africa.
In his new role, Stuart will lead the transformation and expansion of Orascom Development’s hotel business as it evolves to meet the future needs of guests, trade partners, employees and the company’s integrated towns in Oman, Egypt, the UAE, Montenegro and Switzerland. He will also be a vital member of Orascom Development’s global Executive Committee, reporting directly to Group CEO Omar El Hamamsy.
Stuart will work closely with Joachim Schmitt, who retains operational leadership of Orascom Development’s portfolio of 33 hotels across three continents, along with responsibility for future new openings. Joachim will take on the newly created role of Chief Operating Officer at OHM.
Stuart brings a wealth of experience in the hospitality industry. His decade of experience working with a wide variety of hotel brands culminated in the role of Vice President of Commercial for UK and Ireland at InterContinental Hotels Group (IHG). Notably, he also has extensive experience in the airline and cruise industry, including Vice President EMEA for Royal Caribbean Group.
Omar El Hamamsy, Group CEO of Orascom Development, said: “Welcoming Stuart to our leadership during this period of exceptional performance is a testament to our commitment to attracting top-tier talent. Stuart’s proven track record in Commercial, Sales and Marketing aligns well with our strategic drive to further elevate our premium to luxury hospitality offerings. Supported by Joachim’s operational leadership, I’m confident that our hotels business is well positioned to continue building on the impressive growth achieved.”
Stuart Leven, Chief Executive Officer of Orascom Hotels Management, said: “The visionary scale and masterful complexity of Orascom Development’s integrated towns are remarkable. Our portfolio of 33 hotels, with more than 7,000 rooms, serves as a cornerstone in welcoming guests to these extraordinary destinations. Whether at our distinct standalone properties or renowned international brands including The Chedi, Movenpick, Radisson, Rotana, Sheraton and Steigenberger, our focus is on delivering an outstanding guest experience. I look forward to collaborating with our leadership, team, and partners as we transform and expand OHM in line with Orascom Development’s journey to being a pre-eminent, multi-national integrated developer.”
In 2023, Orascom Development’s Hotels segment has exhibited solid growth, with revenues during 1H 2023 increasing by 32.5% to CHF 80.3 million and gross operating profit (GOP) increasing by 86.2% to CHF 35.0 million. These impressive results were primarily due to strong average daily rates, enduring leisure demand, and increased occupancy rates. Throughout the years, Orascom Development’s premium and luxury hotels have garnered accolades for outstanding guest experiences by Condé Nast Traveller, World Travel Awards, TripAdvisor, BBC Travel and other prestigious entities in the industry.
In Oman, the company’s collection includes three hotels in Hawana Salalah (Fanar Hotel & Residence, the five-star beachfront resort encompassing 577 rooms; Salalah Rotana, the five-star beachfront resort with 422 rooms clustered around lagoons and man-made canals, and the Juweira Boutique Hotel, offering 82 guestrooms at the Marina promenade) and the Sifawy boutique hotel in Jebel Sifah. In the UAE, The Cova Rotana in Ras Al Khaimah offers 432 rooms, three swimming pools, three water slides, a children’s area, a fully equipped Bodylines Fitness and Wellness Club, four exquisitely designed massage rooms, three state-of-the-art meeting rooms, and six different restaurants, bars, and lounges with breath-taking views of its pristine beach and the Arabian Gulf.
Orascom Development is the majority shareholder of Muriya, a partnership with Oman Tourism Development Company (OMRAN), the leading government arm for tourism development in Oman.