The Banking Executive Magazine - June 2025 Issue

InterContinental Phoenicia Beirut ternational summits and events, rein- forcing Lebanon’s capacity to engage with the global community. It has a ripple effect: increased hotel book- ings, restaurant activity, event plan- ning—all sectors benefit. Q: AS LEBANON CONTINUES TO REPOSITION ITSELF ON THE GLOBAL TOURISM MAP, HOW CAN HOTELS LIKE PHOENICIA SUPPORT THE COUNTRY’S ECONOMIC RESILIENCE? A: Hospitality is not an isolated sec- tor—it’s a multiplier. Every traveler who comes to Lebanon generates value across industries: transport, re- tail, culture, and of course, banking. Phoenicia’s operations contribute both directly and indirectly to this ecosystem. Moreover, by staying open during periods of uncertainty, we demonstrate trust and inspire oth- ers to do the same. We provide a physical and symbolic anchor in an ever-changing landscape. However, challenges remain. Air connectivity, infrastructure quality, and accessibility need continued at- tention. Sustainable recovery re- quires coordination between the private and public sectors. Hotels can lead by example, but the envi- ronment must support this momen- tum. Q: WHAT ARE YOUR VIEWS ON THE CURRENT SUPPLY-DEMAND BALANCE IN LEBANON’S HOTEL MARKET? AND HOW DO YOU SEE IT EVOLVING? A: There is a notable gap between supply and demand, particularly in the capital. Beirut today does not have the hotel room availability one would expect of a capital city in the region. This limits the city’s ability to host large delegations or tourism surges. Beyond luxury properties, it also needs a healthy expansion of mid- range hotels—three and four stars. These cater to a broader demo- graphic and help drive volume- based tourism. The Lebanese diaspora, regional business travelers, and young explorers represent high potential. They need access to qual- ity accommodations that are both af- fordable and dependable. As the country stabilizes and visibil- ity improves, I believe we’ll see in- creased investor interest. But we must align this with better transport access, regulatory facilitation, and incentives. Q: WHAT REGIONAL TRENDS DO YOU FORESEE INFLUENCING THE MENA TOURISM SECTOR OVER THE NEXT THREE TO FIVE YEARS? A: There’s a visible shift in traveler behavior across the region. Guests are prioritizing authentic experiences over standardized luxury. They want cultural immersion, culinary explo- ration, and personalized itineraries. In the Gulf, the emphasis remains on infrastructure-driven tourism—mega- events, theme parks, futuristic re- sorts. Lebanon’s strength lies in its human capital and organic charm. That’s the competitive edge. Looking forward, wellness tourism, gastronomy-led travel, and sustain- ability will shape market expecta- tions. Phoenicia is adapting to this by designing programs and services that celebrate local culture while aligning with global standards. Q: WHAT MESSAGE WOULD YOU LIKE TO EXTEND TO OUR READERS—EXECUTIVES, INVESTORS, AND DIPLOMATS CONSIDERING LEBANON AS A DESTINATION? A: I would simply say: experience it firsthand. Lebanon is a country of contrasts, creativity, and resilience. Despite the challenges, it offers rare depth and diversity—from the Mediterranean coastline to the snowcapped moun- tains, from vibrant city life to serene heritage sites. At InterContinental Phoenicia Beirut, we are more than a hotel. We are a reflection of the country’s enduring spirit. For investors, Lebanon remains a dynamic opportunity. For travelers, it offers a journey unlike any other. Do not let external narratives define your impression. Come, see, en- gage—and you will understand why so many return again and again. the BANKING EXECUTIVE 20 ISSUE 198 JUNE 2025 EDITORIAL CONCLUSION: As Mr. Greppo eloquently affirms, Phoenicia is not simply a hotel—it is a reflection of Beirut’s spirit: resilient, refined, and relentlessly forward-looking. For leaders in banking, diplomacy, and business, the insights shared here underscore the potential that lies in believing in places and people, even amid uncertainty. Lebanon remains a land of opportunity, and institutions like Phoenicia remind us that when vision meets commitment, legacy and progress can indeed go hand in hand.