Abu Dhabi Tourism Investment Company (ADTIC) has earmarked USD 95 mn to build a “large hotel” in the Giza pyramids area,Sky News Arabia quotes Chairman Mohammed Saif Al Suwaidi as saying. The project comes as the Sisi administration prepares to open the Grand Egyptian Museum in the area later this year, Al Suwaidi added.

Red Sea refurb:The company is also investing around USD 80 mn to modernize its hotels in Sharm El Sheikh and Hurghada, CEO YahyaKotub reportedly told the broadcaster.

ADTIC owns a number of hotels in Egypt’s most popular tourist destinations including the Mercure Luxor Karnak Hotel, Mercure Hurghada Resort, Mövenpick Resort Sharm El Sheikh, and Mercure Cairo Le Sphinx Hotel, according to its website.

Remember: The government wants to more than triple annual tourism revenues over the next three years to USD 30 bn a year under an ambitious strategy that targets attracting 30 mn tourists to the country every year by 2028.

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