The company that owns Medina Yasmine Hammamet pursues its development strategy in the leisure and hotel sectors. As a result, turnover is up sharply and new projects are on the horizon.
Since its creation in 1991, followed by its withdrawal from the Poulina Group in 2007, La Paix has invested some 450 million dinars in the hotel and leisure sectors. This strategy can be described as horizontal concentration, supported by constant investment, and has today made La Paix a leading player in the hospitality sector. It has achieved impressive growth in both turnover and gross operating income, while maintaining a very low level of debt: who said that investing in tourism was a bad risk?
Although it took its name from its first hotel, the 3-star Résidence La Paix opened in Hammamet in 1991, the company is now a well-diversified group in the hospitality sector, and looks set to become a major player in the Tunisian hotel industry.
The company is built around four complementary poles: hotels, leisure parks (two Carthage Land parks, the VR Land park at Tunis Lac 1 and the Arcade Land park due to open in Hammamet in July 2025), a resort (Medina Yasmine Hammamet with over 200 shops and restaurants) and a convention center (the Medina Yasmine Hammamet convention center can accommodate up to 5,000 people simultaneously).
La Paix is unique in offering such a mix of leisure and hotel products.
7 hotels in 4 regions
The hotel pole, under the Medina Hotels banner, is the group’s flagship and accounts for 67% of its business. Since 2019, the company, previously focused on Hammamet, has begun to expand into new regions, investing heavily to acquire or lease hotel units.
It now owns five hotels, including the 4-star Syphax in Sfax (acquired in 2019 and due for renovation in 2027), and leases two others: the 5-star Regency Gammarth (since June 2024) and the 3-star Baya Beach Djerba (since November 2024).
The result is turnover growth of 31% in 2024. This upturn is set to continue in 2025, when turnover is expected to increase by a further 23%.
The company’s workforce will follow the same curve, with 1638 employees in 2024 (+26%) and 1911 in 2025 (+16.7%).
There’s no end in sight, with the company acquiring a 7.5-hectare site in Gammarth in 2019. Could this be a beautiful hotel unit in the offing, or a complex combining the company’s different areas of expertise?