ODE’s agreement with Thomas Cook worth EGP 200 mn

Orascom Development Egypt (ODE)’s agreement with Thomas Cook to develop a hotel and rebrand another in the Red Sea’s El Gouna resort town is estimated to be worth EGP 200 mn, it said in an EGX disclosure (pdf). Orascom Hotels Management (OHM), an ODE subsidiary, will develop Casa Cook Hotel, which is expected to open as early as October 2019, and rebrand Arena Inn into Cook’s Club Hotel, which is expected to open in the summer of 2019.