INVESTMENT WATCH- Intercontinental Hotels Group to add new properties in Egypt: UK-based Intercontinental Hotels Group (IHG) — which owns the Crowne Plaza, Intercontinental, and Holiday Inn brands — is planning to add new hotels in Sharm El Sheikh, Hurghada, and the new administrative capital, IHG’s vice president for the Middle East and Africa Matthew Tripolone told the National. No further details were provided on the projects’ timeline or scale. “We’re seeing heightened growth in Egypt, particularly in the Red Sea resorts, the market has stabilised quite significantly ... admittedly off a low base,” Tripolone said. The New York and London-listed hospitality group, which operates 91 hotels across MEA and is planning to open 48 more in the next three-five years, is also set on making a debut in Tunisia sometime soon.

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