After the Prime Minister’s statements of merger and listing on the stock exchange, learn about the “business sector” hotels

Prime Minister Mostafa Madbouly revealed in an international press conference yesterday that the merger of the seven largest ports under the umbrella of one company, and public-owned public hotels will be offered to the private sector within the scheme to private sector participation in the volume of investments.

Madbouly added that the government intends to increase the participation rate of the private sector to 65% of the total implemented investments, empower the private sector during the coming period, improve the business climate and open channels of direct communication with investors.

He stressed that we are identifying a number of sectors that will be abandoned and left out within 3 years, and there are sectors in which we need to continue as they are crucial, and sectors in which participation will be gradually reduced.

The Ministry of Public Business Sector owns the Tourism and Hotel Management Company, which owns and operates more than 20 hotels and operates in the fields of tourism, hotels, sound and light, and other economic activities through its subsidiaries and related and ancillary activities. . .

In the report, “Al-Mal” monitors the assets of the Tourism and Hotel Management Company, including historic hotels, contemporary hotels, floating hotels and two tourist resorts, which, according to official data, are managed by subsidiaries and the private sector. and the company’s website.

Historic hotels

The most prominent of these historic hotels are the Cairo Marriott Hotel and Omar Khayyam Casino, the Mena House Marriott Hotel – Giza, the Helnan Palestine Hotel, the Winter Palace Luxor Hotel and the Sofitel Legend Cataract Aswan Hotel.

Modern hotels

Contemporary hotels also acquire the bulk of public assets namely Etabe Luxor Hotel, Port Said Hotel, Romance Hotel, Meridien Dahab Hotel, Safir Dahab Resort Hotel, Movenpick Elephantine Aswan and Scheherazade Hotel.

The Cosmopolitan Hotel, the Cleopatra Hotel, the Steigenberger Hotel El Lisan – Ras El Bar, the Shepheard Hotel, the Luxor Hotel, the Steigenberger Cecil Hotel, the Nile Ritz-Carlton Hotel, the Ashti Hotel, Resort Luxor, the Steigenberger El Tahrir Hotel , and the Novotel Airport Hotel.

floating hotels

The list also includes a number of floating hotels, namely the Scheherazade Floating Hotel, the Shahryar Floating Hotel and the Neftis Floating Hotel.

Tourist resorts

The number of tourist resorts reaches 3 resorts, which are Magawish Village, Mövenpick Resort Aswan and Swiss Inn El Arish Resort.

The Ministry of Public Business, under the leadership of Minister Hisham Tawfiq, has been developing existing hotels and other historic revivals over the past few years, developing a number of hotels affiliated with the Holding Company for Tourism and Hotels and its subsidiaries, as well as establishing other hotels in collaboration with the private sector, as well as reviving historic hotels.

Revival of the Continental Hotel

Within the framework of the state’s plan to revive Khedivial Cairo due to the region’s excellent architectural heritage, an integrated plan has been prepared to rebuild the “Continental” hotel with the original design and the same distinctive architectural style adopted in 1870 built on it while preserving the façade of Adly Street.

The estimated investment cost of the development is £ 1.7 billion, with a total capacity of 250 rooms and suites, in addition to a group of halls, restaurants, a health club (spa) and a gym, and three cellars (underground floors) as parking spaces with a capacity of 691 cars.The project also includes a group of shops.Commercial services to serve the area and integrate with the hotel’s own services.

Shepheard Hotel Development

The signing of a contract under an income partnership between EGOTH, the owner of the hotel, and the Saudi Sarif Group, which finances the comprehensive development of the hotel, furnishing, furnishing and preparation for industry, and the development of the hotel with a hotel capacity of 316 rooms and suites with a leading hotel service level and which increases the level from 4 stars to 5 stars to compete with international hotels.

At an investment cost of about £ 1.4 billion, the “Mandarin Oriental” company was recently selected to manage the Shepherd Hotel from four offerings from international management companies.In the works of treatments and structural reinforcement for all structural elements in the hotel building.

Development of the Cairo Marriott Hotel

The development work included the refurbishment of rooms and chalets in all floors of the hotel, which amounted to 737 rooms (suites not included) for the two towers and 220 rooms for the chalet buildings.

The development also included the construction of a new swimming pool due to the deterioration of the condition of the former swimming pool and the surrounding area, the establishment of the Egyptian Nights restaurant and the establishment of a glass cover for it, the establishment of ‘ a health care. club on three floors at the highest level and according to the latest systems, in addition to the development of the area of ​​the famous Bakery restaurant in the hotel and the supply and installation of a number of (4) Electric transformers for electricity rooms in Al-Jazirah- Tower.

Development of Magawish Village in Hurghada

The signing of a real estate partnership contract between Misr Tourism and Wadi Degla Company to develop Magawish village and exploit vacant land. The project includes a comprehensive development of rooms, infrastructure, restaurants, swimming pool, kitchens, and the establishment of tourist, commercial and recreational housing. An annex to the contract was signed on 6/6/2018 to develop the village according to the specifications of the international company Rixos at a level of 5 stars, in addition to the issuance of the building permit for the vacant land No. 239 of 2019, including the construction of 3 hotels and various models of tourist housing and a commercial shopping center.

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