Alshaya group looking to buy hotels in Egypt governorates

Kuwait’s Alshaya Group is looking to buy three and four-star hotels across Egypt, starting with Cairo, Giza, and Alexandria, Al Mal reports. The group is also making arrangements to meet with the Egyptian General Company for Tourism and Hotels (EGOTH) to discuss the possible signing of management and operation contracts for historic hotels in Cairo. EGOTH said last month that it was reviewing two offers from foreign and local companies for the hotel’s EGP 1.2 bn renovation and development project, and would announce the winner in February.