Seven bidders eye Downtown’s storied Shepheard Hotel

Seven unnamed Egyptian and international bidders are interested acquiring a 51% stake in a joint venture with the state-owned Egyptian General Company for Tourism and Hotels (EGOTH) to redevelop Downtown Cairo’s storied Shepheard Hotel, EGOTH head Mervat Hataba said, according to a report in Al Mal. EGOTH invited last month hotel operators and investors to bid on the project.