“The Corinthia five-star hotel in Tripoli is still open with minimal maintenance work being carried out by our skeleton staff, but we are not operating because there is no business at the moment,” Alfred Pisani, the founder of the Corinthia Group and the Chairman and Chief Executive Officer since the incorporation of CPHCL in 1966, said.

When asked during an extended interview if all Maltese employees who worked at the Corinthia Hotel Tripoli returned home, he said that the majority did but there are others who are so loyal to the hotel that they decided to stay. He stated that “we also kept a number of employees working with us so that the hotel will continue to run smoothly.”

In January, the Corinthia Hotel in Tripoli was the target of a terrorist attack in which nine people were killed including five foreigners. Gunmen had stormed the Corinthia Hotel and opened fire in the reception area. A car bomb also exploded nearby.

The terrorist attack on the hotel took us all by surprise, Mr Pisani said. “The infrastructural damages were minimal, in fact all the necessary repairs have been carried out, but the biggest pain was the loss of lives.”

Asked if he is thinking of closing down his hotel because of the instability that exists in Libya, Mr Pisani, without any hesitation replied, “No”. In addition he said that the rented apartments are still operating and in full swing and the company continues to derive profits from them; however, any income from the hotel has now evaporated.   

Speaking about the situation in Libya, Mr Pisani said that the Libyan people deserve much better than what is taking place. As a nation they need to discuss and find solutions and look at their future and be willing to see their own country move forward.

Mr Pisani said that “Libya has a good geographical position, with comfortable temperatures also in winter, they have beautiful beaches, the desert and natural minerals,” which means that the country could prosper in peaceful times.

He added that “we all hope that Libya reaches a peaceful solution today before tomorrow so that they will focus on their future and that of their children.”

Mr Pisani is convinced that once an agreement is reached between all political factions business will once again flock to the country.

In Tripoli the group does not only have five-star hotel but also offices which it rents out for oil companies.

Palm City

Another investment in Libya by the same group is Palm City in Janzour. The Palm City Residences project is a 408-unit development located close to the Libyan capital, Tripoli, occupying a 133,824 square metre area on a kilometre-long shorefront. It opened in 2008 and provides residents with high standards of accommodation.

Asked if it has been affected by the conflict in Libya, Mr Pisani replied that before the Gaddafi revolution the project was doing very well. It had a dip during the revolution but by the end of 2012 everything went back to normal and “both the hotel and Palm City were full within three months.”

As from last July even Palm City saw a decrease in the number of residents and at the moment 70% of the property is rented. He added that, “although faced with this situation the group will make a profit (from Palm City) by the end of the year but not as much as the previous years.”  

 

An extended interview with Mr Pisani will appear in next Sunday’s The Malta Independent on Sunday.