HOTAC looking at four tender offers for Shepheard Hotel development

The Holding Company for Tourism and Hotels (HOTAC) is studying four tender offers from companies hoping to renovate and manage the Shepheard Hotel, Chairman Mervat Hataba said, according to Masrawy. The company will officially begin its evaluation in the presence of the investors today, Hataba said, adding that the offers came from two Kuwaiti investors, an Iraqi and a Saudi. The government in June reversed a decision to set up a JV to develop the hotel and decided instead to contract a multinational company to do the job.