The Hospitality Development Group, the agent of the Swiss brand Swiss International Hotels & Resorts in the Middle East region, signed an exclusive contract of $450m with Thrawaat International Investment for the management and investment in hotels and resorts. Awad added that the company intends to invest in the field of management and operation of hotels in the New Administrative Capital (NAC) and New Alamein. He pointed out that the Swiss brand will revolutionise the concept of quality of hotels in the Egyptian market. The company will establish 5-star hotels (Royal swiss), 4-star hotels (Swiss international), 3-star hotels (Swiss Spirit), and 2-star hotels (Yesinn) that will provide international quality at competitive prices to similar levels already in Egypt. Thrawaat International Investment was established in 2013 and is an Egyptian joint-stock company.

Source: The North Africa Journal February 16, 2020 19:18 UTC