Cairo, 13 AUG 2025:
For the first time ever on the Forbes Middle East Travel & Tourism lists, a private sector businessman—Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG Holding)—has been named the top leader in the sector.
Hisham Talaat Moustafa’s top ranking on the 2025 list is a significant achievement, as he is the first private sector businessman to lead the list. Previous leaders were typically affiliated with government entities or companies owned by sovereign wealth funds. This distinction highlights Moustafa’s exceptional performance and success in a highly competitive industry.
This achievement positions TMG as a leader in the Egyptian and Arab tourism sector, showcasing Egypt’s ability to compete and lead regionally.
These achievements are the result of a career spanning more than 40 years at the helm of the TMG. The Group now manages over 5,000 hotel rooms in 11 hotels, with another five currently under development. The company’s land portfolio also exceeds 125.9 million square meters across Egypt, Saudi Arabia, Oman, and Iraq.
In the first quarter of 2025, the Group reported cumulative sales of $6.9 billion. Additionally, revenues from its hotel sector saw a 50% increase, reaching $69 million. This accounts for 37% of the Group’s total revenues of $186 million.
The Forbes Middle East list is compiled using specific criteria, including business size, number of hotels and rooms, revenues, value of investments and assets, geographic reach, economic impact, leadership strength, and achievements from 2024 and 2025.
It is worth noting that Hisham Talaat Moustafa has played a pivotal role in developing Egypt’s tourism sector. This was achieved through the acquisition by the Group’s subsidiary, ICON, of a 51% stake in Legacy Hotels and Tourism Projects. Legacy owns seven historic hotels. These include the iconic Marriott Mena House in Cairo, the Sofitel Winter Palace in Luxor, and the Old Cataract Hotel in Aswan. This strategic acquisition has boosted the Group’s foreign currency earnings and significantly raised the standard of hospitality in Egypt.
Furthermore, partnerships with global hotel brands like Four Seasons and Kempinski have elevated the Group’s service quality. This strategy has successfully attracted high-spending tourists and increased the average room rate, solidifying Egypt’s reputation as a premier luxury tourist destination in the region.
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