With more than 750 properties in more than 55 countries across six continents, Hyatt Hotels Corporation, one of the world’s top hospitality companies and one of most successful luxury hotel brands, Hyatt Hotels Corporation has entered Albanian market. The management agreement signed today in a ceremony in the presence of the Prime Minister Edi Rama marks the start of a two-year investment phase and transform the existing facility into a five-star hotel.

Prime Minister Edi Rama’s remarks at the signing ceremony of the management agreement between the Hyatt Regency Residences and MAK Albania:

 

If you were to refer to TripAdvisor, the world’s largest and leading travel site, you would find over 100 000 comments and opinions on Albania as a tourist destination. Two things are to be noticed amid all these 100 000 comments. First, the exceptional impressions of Albania’s natural and cultural richness that match up to the Albanians’ generosity, and second, the dissatisfaction with the quality of service on offer at the accommodation units across country. The latter is exactly the major challenge the country faces and will face in the efforts to strengthen an industry that undoubtedly has a largely yet unexplored potential and will be the basis of tomorrow’s economy of Albanians.

The today’s event represents a significant milestone on this not an easy journey to win this challenge. Many misinterpret our focus and support policy on the five-star hotels and hospitality resorts with the support for the rich people. Indeed, quite the opposite is true. The five-star hotels and resorts are the elite of an industry, not just because they offer and provide much better conditions than other levels, but also because they generate much more revenue, quality employment opportunities, economic growth and consumption and they attract a category of tourists who tend to spend more than other visitor types. So, our significant and competitive incentives policy towards the five-star hotels across the country is part of this industry’s growth strategy to spur economic and employment growth in our country.

I am very pleased that within just over a year of our second term in office, we have succeeded in paving a way that seemed totally impossible not long ago. Albania has been the Europe’s and the region’s only country where not a single five-star hotel was to be found. And it still is since we will affirm that Albania is home to such hospitality facilities once such investments complete. Everyone can well remember that closure of the Sheraton Hotel in Tirana gave negative impressions, but we all know that, although it liked to rate itself a five-star hotel, it actually was not a such. And here we are today. We have signed agreement with Marriott and Hyatt brands, whereas a number of other globally renowned brands of the world’s hospitality and tourism expect to finalize agreements with entrepreneurs and actors operating in the Albanian market.

This is also an added value in the image of the country. The image of empowering this industry and increasing the flow of tourists is fundamental. We know it and in this respect, although this firm will have an absolutely important and significant impact, let alone this investment’s added value, since it is not merely a name transfer investment, but a considerable and transforming project in terms of this area’s entire structure and infrastructure, which will add another attraction to Tirana combined with the new stadium and the whole surrounding area.

Before I conclude, let me highlight two or three figures. Albania is experiencing a steadfast growth in tourist numbers and continued increase in tourism revenue, as official data show, but it is important for us to make sure that visitor numbers and revenue keep increasing each year as growth tends to be higher than the previous year.

Works to construct as many as 53 new hotels kicked off in 2017 alone, a higher number that in the fourth previous years combined. The hotels construction is an increasingly stronger tendency also driven by the arrival of leading big companies, which, so to say, confirm this tendency. They also confirm another fact that in the next ten years, tourism industry will be the main growth source of economy in Albania.

Wishing you every success to the Albanian company and the global renowned company Hyatt Regency & Residences in their cooperation, I would also like to express my appreciation to all those who contributed towards finalization of this agreement, being convinced that the next signing ceremony with another renowned five-star hospitality global brand will take place in a very near future to the benefit of the growing tourism industry and further increase of our country’s credibility that – just like I started my speech by quoting concrete comments published on TripAdvisor – has the potential and whatever needed to become a major player in tourism industry in this region, but still needs to enhance and improve the service quality. The companies, apart from everything else, bring here a completely unknown new experience and service in the tourism industry.

Thank you very much and successes to everyone!