Two new Crowne Plaza hotels in the works: Kuwaiti real estate player Urbnlanes Developments and the British IHG Hotels & Resorts will set up two new hotels in Egypt with combined investments of USD 85 mn, the companies said in a joint statement(pdf) yesterday. The two hotels, which will operate under IHG’s Crowne Plaza brand, are set to open their doors in 2028.

The hotels: The Crowne Plaza New Cairo — which will be set up in Urbnlanes’ mixed-use development Yellow Residence — will house 180 rooms, a restaurant, club lounge, and five meeting rooms along with an events hall and banquet facilities. Meanwhile, the Crowne Plaza Levels Tower will be located in the new capital, housing 110 rooms tailored for business travelers. It will also offer three upscale restaurants and five meeting rooms.

In line with our ambitious tourism goals: The government wants to see the private sector build at least 200k new hotel rooms as part of its plan to attract as many as 30 mn tourists a year by 2028. To help reach its goal, the government is looking into an initiative offering subsidized loans to local and foreign hospitality players looking to set up more hotel rooms across the country.

IHG is no stranger to the Egyptian market: IHG currently operates seven hotels in Egypt under four brands: InterContinental, Crowne Plaza, Holiday Inn, and Staybridge Suites. IHG is also working with Arabella Group to set up three new hotels in Cairo and the North Coast that are slated to open by 2026 and has plans to open up two new hotels in Sheikh Zayed by 2028.

Neither is Urbnlanes: Founded in 2021, Urbnlanes Developments is a subsidiary of Kuwaiti EmeelAbdallah Investments. It has completed over five administrative, residential, and commercial projects in New Cairo and the new capital with investments of c. EGP 46 bn.

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