Egypt’s Albatros, Germany’s Phoenix to build new EGP 850 mn Hurghada hotel

Albatross Holding’s hotel management arm Pick Albatros has partnered with Germany-based travel agency Phoenix Reisen to build a five-star hotel in Hurghada at a cost of EGP 850 mn, company head Kamel Abu Ali told Al Mal. The 350-room hotel, “Blue Spa Resort Hurghada,” is set for inauguration during the summer in 2020 and will be financed jointly by the partners.