Sunrise Resorts & Cruises plans to invest USD 700 mn to add 7k new hotel rooms to its Egypt portfolio over the next four years, Founder and Chairman Hossam El Shaer told Asharq Business. Sunrise will self-finance 50% of the investment, with the remainder to be covered through bank facilities.

Looking forward: The hospitality firm plans to increase its hotel capacity to 20k rooms by 2028, up from 13k currently. Sunrise intends to launch new properties in Cairo, Sharm El Sheikh, Marsa Alam, and the North Coast through 2027.

More in the pipeline: Sunrise is investing USD 60 mn to build two new hotels in Ain Sokhna, slated to open their doors within two years, El Shaer said.

The company previously announced plans to add 4k hotel rooms to its capacity in 2025. Of that, 1k rooms will be added to existing hotels, while 3k will come from new developments.

REMEMBER- The government aims to attract some 25 mn tourists annually by 2030. To that end, it plans to add some 240-250k rooms to the existing hotel room capacity.

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