The Saudi Hospitality Development Group, the representative of Swiss International Hotels and Resorts in the Middle East region, signed an agreement with Egypt’s Thrawaat International Investment for the exclusive management and investment in hotels and resorts.
Under the partnership, Thrawaat International Investment will launch eight hotels for the Swiss brand during the next two years with investments worth $450 million in Cairo, Hurghada, Sharm El Sheikh, Marsa Alam, the North Coast, Luxor, Aswan, and Galala, the company’s chairman Ahmed Awad said in a statement.
The company aims to invest in hotel management and operation in the New Administrative Capital and New Alamein City, Awad added.
Awad revealed, “The Company will establish Luxury hotels (Royal swiss), upscale hotels (Swiss international), Mid.market hotels (Swiss Spirit), and Economy hotels (YESINN) that will provide International quality at competitive prices to similar levels already in Egypt.”
Swiss International Hotels and Resorts aims to increase the number of its hotels in Saudi Arabia and the GCC region to 30 by the end of 2020, according to Swiss International
Arabia’s CEO in the MENA region, Naji Alshiha.
Mr. Henri Kennedie, President & CEO of Swiss International complimented both Mr. Ahmed Awad and Mr. Naji Alshiha with the accomplished result. He added, that the Company is very pleased to enter an international important market as Egypt.
Swiss International is currently operational with 25 hotels, 10 hotels are in development and expected to open in the next 2 years. The hotels are all located in the continents of Africa, Middle East and Asia. The Company is to grow the portfolio to 60 hotels in the next 2 years. The Swiss International brands are committed to upholding the Swiss levels of quality.
Swiss International’s head office is in Ras Al Khaimah, one of the 7 emirates of the UAE.