Saudi HDG signs USD 450 mn agreement with Thrawaat to manage Swiss hotel brand

Egypt’s Thrawaat International Investment Corp has signed a USD 450 mn partnership contract with the Saudi Hospitality Development Group (HDG) to manage Swiss International, its Swiss hotels and resorts brand, Masrawy reports The agreement will see eight hotels in Cairo, Hurghada, Sharm El Sheikh, Marsa Alam, Luxor, Aswan and the North Coast added to Swiss International’s portfolio within the next two years, said Thrawaat founder Ahmad Awad.