Cairo, Egypt -- (SBWIRE) -- 02/15/2010 -- Egyptian tourism investor Hamed El Chiaty announced that he has once again increased his stakes in TUI AG, the leading German-based European travel conglomerate, to more than 3 percent.
El Chiaty’s stakes in TUI AG are held by El Chiaty and the Brierly Gardens Investments Limited. The TUI executive board initially welcomed the Egyptian investor Hamed El Chiaty as shareholder as of March 2007
Hamed El Chiaty who is the founder and Chairman of Travco Group, the Middle East’s leading leisure group is also the majority shareholder of 99.7 percent of the flagship German Hotel group, Steigenberger Hotel Group.
El Chiaty was named Tourism Pioneer by the Egyptian Ministry of Tourism for his role in developing tourism in Egypt. Following a presidential decree, El Chiaty was appointed by the Ministry of Tourism as a member of Egypt’s Supreme Council of Tourism.
About Travco Group
The 13 year award winner Travco Group has permeated every facet of Egypt’s tourism industry, with a unique fully integrated business model. Travco Group International Holding umbrella includes the following brands; Travco Travel the flagship destination management company (DMC) of the group handles more than 1.3 million tourists annually; Their renowned hospitality brands are the luxury hotel brand Jaz, Iberotel Sol Y Mar Hotels & Resorts and Travcotels Nile cruises. This is in addition to the leading German hotel chains recently acquired, Steigenberger Hotels & Resorts and InterCityHotel. Travco Properties is Travco’s real estate development arm and features two mega developments namely Almaza Bay on Egypt’s North Coast and Madinat Makadi on the Red Sea. Travco Transport and Prestige Cars oversee the transportation fleet of the Group.
For further information, please visit: http://www.travcogroup.com