Tharawat aims, through a partnership contract with the Saudi group, to open eight new hotels for the Swiss brand in two years, with investments of up to $US 450 million. Swiss International aims to raise the number of its hotels in the Kingdom of Saudi Arabia and the Gulf to 30 hotels by the end of 2020, according to Nagy al-Shiha, CEO of Swiss International. The group aims, during the next five years, to build and manage 20 hotels in Egypt, in addition to other resorts attracting tourists from around the world, Shiha said. Tharawat Investment is an Egyptian joint stock company established in 2013, working in the field of real estate and hotel investment. Edited translation from Al-Masry Al-YoumImage: A view of the Marriott Mena House Hotel, overlooking the pyramids, in Giza, Egypt

Source: The North Africa Journal February 21, 2020 10:52 UTC