From L-R: Salah Oumouden, VP operations Egypt & KSA; Alaa Omar, chairman of investment general authority; Olivier Granet, MD & COO AccorHotels ME, Yehya Rashed, Minister of Tourism, Mohamed Shokeiry and Yassin Shokeiry.
AccorHotels has signed a management agreement with International Trade Co. one of Al-Yassin Holding for Financial Investments subsidiaries to operate an upper midscale hotel under the Novotel brand to be developed in Cairo Nasr City.
The new property will be AccorHotels’ sixth hotel in Cairo and is expected to open by 2019.
Al Yassin Holding chairman Yassin El Shokeiry, said: “we are thrilled with this new project that allows us to contribute in developing the Egyptian economy.
“This project will increase the geographical reach of our projects across Egypt. With total investment of one billion Egyptian pounds, it will create around 4,000 new job opportunities.”
The hotel is set on an area of 24,000 m2 and is planned to feature 350 rooms and suites, a 2,300 m2 conference center, a swimming pool, health club and a spa as well as restaurants and bars.
AccorHotels Middle East & Egypt managing director and chief operating officer Olivier Granet said: “We are delighted to partner with Al Yassin Holding in this exciting development which is a valuable addition to our current portfolio of 14 hotels across Egypt.
He added: “AccorHotels is strongly committed to the country and this new development illustrates the confidence of local investors in our brands and powerful distribution platform. AccorHotels have been operating in Egypt for more than 35 years and we are pleased with our continuous expansion in the country”.
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Located in Nasr City, not too far away from Cairo International Airport and close to Cairo International Conference Centre, the stadium and many of the city’s main attractions.
The Novotel Cairo East Hotel will be part of a mixed-use development which covers a total built up area of about 100,000 m2 and will comprise of a 3-storey shopping mall, a medical center and a residential tower.
Salah Oumoudden vice president operations of AccorHotels for Egypt & Saudi Arabia said: “Novotel Cairo East marks the beginning of a long-term partnership with Al Yassin Holding and it reinforces AccorHotels’ commitment to development in Egypt.”
“The hotel will join an existing network of five Novotel hotels in Egypt with locations in Cairo, Sharm El Sheikh and Marsa Alam, known for its consistent high service standards and commitment to guests’ well-being,” Oumoudden added.
AccorHotels operates a network of 14 hotels across Egypt representing nearly 4,000 rooms in nine cities: Cairo, Ismailia, Hurghada, Marsa Alam, Sharm El Sheikh, Dahab, Taba, Luxor & Aswan under the brands Sofitel, Novotel and Mercure, and covering segments from midscale to luxury.
The signature ceremony was held in the presence of H. E. Yehia Rashid, Minister of Tourism and Alaa Omar Chairman of the General Authority for Investment who attended on behalf of H.E. the Minister of Investment, in the presence of Olivier Granet managing director and chief operating officer AccorHotels Middle East & Egypt, Salah Oumoudden vice president operations of AccorHotels for Egypt and Saudi Arabia. Amongst other top government and Accor officials.
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