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Swiss firm looks to thailand

By The Nation
Published on July 1, 2008

MA Kharafi Group has set up Sovereign Hospitality Holdings, an independent hotel, tourism and real-estate investment company based in Switzerland.

The new company has integrated assets of US$800 million (Bt29.7 billion) and regional offices in South Africa and Egypt. It has been launched to expand through strategic acquisitions, financing and developing assets worldwide, including Thailand.

The MA Kharafi Group is a Fortune 500 firm registered in Kuwait with annual revenue of $4 billion. It operates in 25 countries and has more than 100,000 staff.

Sovereign Hospitality's portfolio consists of 21 hotels and resorts with more than 4,000 rooms in Egypt, South Africa, the Gambia, Syria, Lebanon and Albania. Further projects are being developed in Africa.

Sovereign Hospitality Holdings is looking to expand the geographical reach of its hotel, resort and real estate portfolio globally in both emerging and established markets.

Mohamed Fahmy, CEO of Sovereign Hospitality Holdings, said its business objective was to expand through strategic acquisitions in Thailand and worldwide.

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Swiss firm looks to thailand

MA Kharafi Group has set up Sovereign Hospitality Holdings, an independent hotel, tourism and real-estate investment company based in Switzerland.

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