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Mahmoud M. Zuaiter
Director of Finance


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The process are the three keys to achievement

Highly successful financial management executive offering 28 years of international experience in cross-cultural environments. Strong experience in complex restructuring, international expansion and capital market transactions. Profit optimization and negotiation specialist, strategic thinker, innovation financial executive and excellent team leader.

  • Phone: +41798508004
  • Email: mahmoud_zuaiter@yahoo.com
  • City: German Citizen



Mahmoud M. Zuaiter


Mahmoud Zuaiter has over 30 years of experience in the hospitality, real estate and destination development industries in the European and Middle East and Africa region.

Recognized for his unique ability to transform and elevate the operational standards of large-scale organizations, his career began at the InterContinental Hotels Group in Europe, evolving over an impressive period of 14 years and culminating in the position of Director of Finance for the Middle East and Africa region. In 2004, he joined Orascom Development Holding as the Group’s CFO and was promoted to assume his role as CEO for the group’s Hotel Division in Switzerland in 2012.

Zuaiter joined JPTD as CEO and board member in February 2014. His unparalleled understanding of modern destination management was critical in the formulation of the company’s new vision; in the three and a half years he served with JPTD, the company has witnessed an unparalleled successful transformation in the company’s operation and more importantly its solid financial standing as the leading destination developer in Jordan.

Educated in Germany, he holds an MBA from Columbus University.

  • Phone: +41798508004
  • Email: mahmoud_zuaiter@yahoo.com
  • City: German Citizen

More About Zuaiter:

In all of his professional endeavors, Zuaiter has continuously adopted an inclusive business environment with a strong emphasis on achieving targets as a team with an aim to stay true to the principles of focus, transparency, and efficiency.

Those who have worked with Zuaiter will always attest to his constant tendency to relate business matters to a team sport, specifically football; where he is constantly shuffling his “team players” to ensure the right talent is focused on achieving the desired result. His style of management are captivatingly described in the words of American writer Warren Farrell when he wrote, “Men’s competitive team sports focus on the balance between individual achievement and team achievement with the emphasis on team achievement”.

Not only does he adopt an inclusive management style, but openness to fresh new ideas has always been a focus, where he creates an accessible atmosphere for creativity in the workplace. In Zuaiter’s book, the limit of creativity is the sky, and the realistic action plan is adopted at a later stage. This has allowed Zuaiter to guide many of his team members to realize their true potential by encouraging them to proceed with their original ideas, while aiding them in the process of formulating a realistic and efficient action plan to ensure the materialization of successful results.

A corporate leader with a strong financial background, Zuaiter provides the ideal balance to drive the business in the right direction ensuring that a hands-on approach can also include team work, flexibility, and most importantly the ideal setting for achieving results.


In his 14 years with IHG, Zuaiter has managed to go up the corporate ladder starting as a night receptionist to assuming the role of Director of Finance for the Middle East and Africa region. His journey with IHG included several milestones in the hospitality industry including:

  • Opening of the first IHG hotel in Eastern Germany, after the country united
  • Opening of the first Resort for IHG in Europe in Northern Germany
  • Being part of the team in growing the number of IHG hotels in the Middle East and Africa from 32 Hotels to 88 in four years
  • Establishing “self-accounting setup” for IHG hotels in Germany
  • Completing four IPOS for the total amount of USD700 million
  • Listing the company at the SIX in Switzerland
  • Under Zuaiter’s leadership in the finance department, the company has witnessed seven years of consistent Growth in Revenue, EBITDA, NP and Assets
  • In his 12 years, Zuaiter was involved directly in Growing the number of Hotels from 14 hotels to 33 internationally.
  • Increasing the revenue from the first year of joining to the range of USD 19.7 million in 2014 and 2015 compared to the previous five years (average USD 8.4 million).
  • From the first year of joining the company, Zuaiter has managed to bring the company’s results to breakeven at the Net Profit level in comparison to the total accumulated losses of USD18.3 million
  • Reaching USD31 million in Revenue in 2016 from operational activities and a positive Net Profit, whilst achieving EBITDA of USD8.1 million; equivalent to the same amount of net cash from operation.
  • Reduced the company’s Group debts from USD70.5 million USD49.3 million in less than three years.
  • Finalizing the Put – call option for one of the company’s biggest assets, (the staff housing properties) for USD14 million.
  • Forming a management team in accordance with the new company revenue segmentation.



  • Corporate Finance and Management
  • Corporate Governance and legal
  • Investment Development
  • Asset Management
  • Financial Engineering
  • Contracts Management supervision & negotiation
  • Hospitality and Gastronomy Management



Since March 2014 – July 2017 Jordan Projects for Touristic Development
Chief Executive Officer & Managing Director Member of the Board of Directors Jordan Project for Touristic Development is a listed company at the stock market of Amman Jordan. The company owns the Talabay project in Aqaba. The project is located over 2, 7 million sq.


  • Restructured the financial statement, the legal and the management setup
  • Restructured the company debts and reduced it by 25%
  • Acquisition of Hotels (600 rooms)
  • Increased the revenue by 100%
  • Reached the breakeven in 2014 and a positive cash operation followed by positive results in 2015
  • Increased capital and equity of the group from 28 million US$ to 100 million US$
  • Preparing for IPO 150 million JOD (210 million US$)
www.orascomdh.com Chief Executive Officer Hotel Division June 2012 – To February 2014 In charge for the Hotel division of the group 31 operating Hotels (7500 rooms) with Book Value of 700 million CHF Turnover of 200 million CHF


  • Increased revenue by 25%
  • Increased profitability by 18%
Opening of 4 hotels (2 in Egypt and 2 in Oman)
August 2008– May 2012 Senior Vice President & Group Chief Financial Officer
Responsibility for Orascom Group over nine countries and 140 entities.
  • Finance and Accounting
  • Taxes and legal
  • Consolidation
  • Risk management
  • Corporate finance and treasury
  • Controlling and analyses
  • Budgeting, reporting and performance review
  • Internal control systems
  • Investments and Investors relation


  • Listing the Company in SIX (Swiss Exchange stock market) in 2008
  • IPO successfully in 2010 (180 million CHF), 2008 (220 million CHF), 2006 (100 million USD)
  • Optimizing the consolidation and the closing process
  • Establish strong MIS systems
Establishing strong strategy resulting in continuous growth for the past 7 years
July 2004 – July 2007 Vice President Corporate Finance & Investment
Responsible for Corporate finance and treasury, controlling and analyses, budgeting, reporting and performance review, investments and investors relation. ACHIEVEMENTS:
  • Issue the first consolidated financial statement for the group
  • Convert all financial statements into IFRS
  • Acquisition of the hotel companies through swap transaction
  • Improve profitability of the hotel companies by 20 % through combining the operational financial statement with the owning company financial statement
  • Establish reporting and budgeting system and processes for the group
  • Improve revenue recognition of real estate according to IFRS with high profitability
  • Build strong finance team in corporate and in operation
  • Optimize the accounting treatment to improve assets value and register
  • Restructure the group debts resulting net debt to equity to 30 %
Chief Financial Officer (Consultancy basis – One-year contract) Privately owned company with the following activities. Real Estate Development in KSA, owning 10 Hotels (2 Hotels in Cairo managed by Hyatt, Sheraton Hurghada, Hotel under construction in Cairo, 2 five stars Hotels in Tunisia, 2 four stars Hotels in LA, 1 five stars Hotel in Morocco, 1 Hotel under construction in London), Aviation Department (Boeing 727 and Tri-Star) for private and commercial purposes; Marine Department (Marina in LA, USA), Managing 5 office buildings in prime locations in London, Paris, Colorado and Aspen. Responsibilities:
  • Give the Group the appropriate management structure;
  • Plan and optimize the return on Investment;
  • Improve cash leverage;
  • Prepare for the entire disposal of the group;
  • Refinancing of existing assets in view of raising cash for owners;
  • Reorganized / optimize Accounting Shared services Centre;
  • Provided Management Reporting in Line with owner expectation and cut production time drastically;
  • Revisited Treasury function in full and optimized cash pooling benefits significantly;
  • Created a proper Internal Audit function and started to develop and implement procedures;

Area Director of Finance

Middle East & Africa – Cairo Based

February 2002 to May 2003 (Promotion)

Responsibilities: Responsible for the finance functions of InterContinental Hotels Group, IHG (InterContinental, Crown Plaza, and Holiday Inn). The Portfolio includes 72 units in 17 countries representing total revenue of over US$ 500 million. In charge of coordinating and integrating the finance function one common platform for all brands as the management structure were consolidated. Implementation of common processes as well as management & financing reporting and in addition the identification of business synergies and economies of scale to reduce costs and rationalize the management’s portfolio. The division has grown by about 10 properties per annum, and a large part of the function was dedicated to the analysis of feasibility studies, review of management contracts, owning company’s relationships, opening setup and including manpower identification and development.


  • Opening and takeover of 16 properties (Involved in all stages from contractual reviews and negotiation to due diligence and opening set up);
  • Negotiation of termination agreement and disposal of Hotels (5 terminations);
  • Financial Engineering for major renovation;
  • Re-engineering of the accounting department leading to a decrease in headcount by 50% throughout the portfolio;
  • Implementation of a regional purchasing structure
February 2001- February 2002 (Promotion) Area Business Support Manager ME&A
Cairo Based Responsible for 72 operating Properties. Reporting the Vice President of Business Support ME&A
October 1999-February 2001 (Promotion) Area Finance Manager ME&A
Responsible for 21 Holiday Inn Hotels in Middle East & Africa
September 1998 - October 1999 (Promotion) Area Revenue Manager Middle East
Audit and develop the finance dept. in the Middle East region Train and appoint the Financial Controllers. Analyze the revenue of the Hotels and issue a strategy in co-operation with GM’s Pre – Openings:
  • Holiday Inn Hurghada - Egypt
  • Holiday Inn Dunes – Beirut, Lebanon.
  • Holiday Inn Amman – Amman, Jordan.
  • Holiday Inn Sharm El Sheikh – Egypt.
  • Holiday Inn Downtown Dubai
October 1997 (Transfer after 6 weeks by joining HICP Dubai) Business Support Manager (Revenue Manager)
Holiday Inn, Hurghada and Holiday Inn, Safaga - Egypt.
September 1997 (Transfer) Assistant Financial Controller for the region (Transition period)


Holiday Inn – Crown Plaza Dubai
1996 – 1997. (Promotion) Financial Controller Holiday Inn Resort, Tossens, Germany
(550 Rooms, 7 Outlets, 200 Pax BQ, and Pool Paradise for 700 person, Big Leisure facilities) Pre-Openings and Openings, Opening the first Holiday Inn Resort in Europe
1995 – 1996. (Promotion) Financial Controller for both Hotels

Holiday Inn Cottbus – Germany

Holiday Inn Express Cottbus – Germany

(110 Rooms, 2 Outlets, Banquet Hall for 50 Persons) (230 Rooms, 4 Outlets, Banquet Hall for 400 Persons) Pre-Opening and Opening. The first Controller at Holiday Inn Germany running self-accounting. Opening the first Holiday Inn Express in Europe, Middle East and Africa
1990 – 1995 Holiday Inn – Munich
(330 Rooms, 4 outlets, 500 Persons BQ) Deputy financial Controller. Cost Controller. City Ledger clerk. /Income Auditor Accounts clerk. Front office Shift Leader Night Manager Night Auditor. Night Receptionist. Support in Service and Kitchen
Aug.1989 – Aug.1990 Casino Hotel Regensburg – Germany
Food and Beverage on the job training: Administration, Kitchen and Service.
Aug.1989 – Aug.1990 Maximilian Hotel Regensburg– Germany
Food and Beverage on the job-training Kitchen, Service and Banqueting.
1987 Holiday Inn – Kuwait
Management Training (six months) All Departments.



Columbus University, USA- Online


Columbus University, USA – Online




Rank: Excellent.
Financial and Accounting College
Qualification:  Financial Accountant
Munich – Germany


Rank: Good.
Eckert College for Hotel Management.
Diploma – Germany


Rank: Good.
Garmish Partin Kirchen School.
Diploma – Germany


Very Good


1996 – Holiday Inn - Model for Management

1992 – Holiday Inn - Time Management

1992 – Holiday Inn – Interaction Management

Honors and Awards:

  • 1995 – Best Trial balance reconciliation at Holiday Inn
  • Implementation of Hyperion across the group in MEAE
  • 5th Best Controller Europe March 1995 / Controller Conference Malta
  • 1997 Achievement of Manager 2000 Assessment Center in Heidelberg
  • CFO of the year 2010 (NASEBA)
  • Top CEO of the year 2016 (IAOTP)
  • (https://ws.onehub.com/files/r4ij62nq)


  • Solid IFRS experience as well as various Local GAAP
  • Balance Sheet restructuring;
  • Refinancing of existing assets in view of cash raising;
  • Dealing with investors, owners, financial instructions;
  • Optimization of return on investments;
  • Valuation of portfolios;
  • Reporting to internal and external
  • Consolidation on the Group level of 140 entities
  • Rights offering
  • Issuing earning releases and quarterly audited financial statements
  • Implementation of resolutions and corporate governance
  • Mergers and acquisitions
  • Integration under one common platform of different management structure;
  • Identification of business synergies and economics of scale to reduce costs & rationalize management processes;
  • Management & Financial reporting optimization;
  • Recognizing / Optimizing of accounting shared services;
  • Internal Audit function implementation;
  • Corporate procedures definition;
  • Implementation of global purchasing structure;
  • Definition and implementation of large legal re-organization
  • Management of litigations & claims;
  • Tax optimization;
  • Tax saving plan linked to a solid legal structure
  • Follow up on Legal Cases
  • Monitoring and financing of major capital expenditure program;
  • Central cash management;
  • Cash flow forecasting;
  • Various financing and funding models
  • Investor relations, shareholders communications and events including organizing the general assembly, BOD meetings, etc.
  • Contractual negotiation of management contracts;
  • Negotiation of termination agreement and disposal of assets;
  • Feasibility studies and Models;
  • Opening and takeover of hotels;
  • Owning company’s relationships management;
  • Capital increases and decreases
  • Due diligence, valuations, impairement, etc.
  • Communicating with various stock exchanges
  • Selection of systems & platforms;
  • Development of application on large scales;
  • Systems integration
  • Establish a strong payroll process
  • Monitor the control of payroll
  • Monitor compensations and benefits
  • Monitoring efficiency and proper staffing

Raymond khalife: Ex-President (IHG)Intercontinental MEAF

Luciano Gabriel: CEO PSP/Head of Audit Committee ODH AG

Abdalla Alnokrashy: Ex-ODH head of Real Estate/ CEO MAFI Egypt

Mohamed Hawas: Partner-KPMG

GJ Peres: President Moevenpick Worldwide


  • Phone: +41798508004
  • Email: mahmoud_zuaiter@yahoo.com