The Holding Company for Tourism and Hotels (HOTAC) is planning to announce next week the winning bid in its tender to renovate and manage the Shepheard Hotel, HOTAC Chairman Mervat Hataba told the press. HOTAC is currently reviewing two offers, one from a Saudi and another an Iraqi company. The company is in the final negotiation stages. Hataba said last September that HOTAC was reviewing four offers from Kuwait, Iraqi, and Saudi investors.

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