Travco subsidiary Jaz Hotel Group will open four hotels in Egypt this month with combined investments of USD 162 mn, CEO and Chairman Alaa Akel told Asharq Business. The new hotels will be located in Greater Cairo, Hurghada, and Marsa Matrouh and will add 1.6k rooms to Jaz’s portfolio.

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The breakdown: The new entities will include a 560-room hotel located near the Great Pyramids of Giza, next to the Grand Egyptian Museum. Another is being set up in Sahl Hasheesh with a 650-room capacity, and the last two hotels are being constructed in Marsa Matrouh and will have a combined capacity of 410 rooms.

And there’s more to come: Last year, Akel said that the hospitality player has six new hotels in the pipeline — under a USD 215 mn investment plan — slated to open their doors in 2025. The new hotels were said to add over 2.1k rooms to the company’s portfolio and be set up in the North Coast, Hurghada, and Marsa Alam.

REMEMBER- The government aims to attract some 25 mn tourists annually by 2028, for which it plans to add some 240-250k rooms to the existing hotel room capacity.

ICYMI- The Tourism Ministry revealed this week it is looking to secure some EGP 200 bn to launch the second iteration of the subsidized loan program for hospitality players, which will differ from the first EGP 50 bn program launched in October by focusing on establishing new entities or new hotels instead of just adding rooms to existing hotels.

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