Arab Finance: Talaat Moustafa Group Holding (TMG Holding) expects to double its dollar revenues over the coming period to reach $856 million by 2028, based on market expectations and the future performance of the hotel sector, as per a filing.

This follows the group’s recent expansion in the hotel sector via the acquisition of a controlling stake in Legacy Hospitality Company and investing in renovating and upgrading these hotels.

In the first half (H1) of 2024, TMG achieved consolidated profits excluding taxes and minority interests of EGP 3.889 billion, up 149.27% year-on-year (YoY) from EGP 1.560 billion.

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