{"id":546614,"date":"2022-05-23T04:00:57","date_gmt":"2022-05-23T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/"},"modified":"2022-05-23T04:00:57","modified_gmt":"2022-05-23T04:00:57","slug":"hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/","title":{"rendered":"Hotels to be listed on the EGX as part of state privatization plans -Tawfik"},"content":{"rendered":"

<\/a> Egypt will merge seven or eight state-owned hotels into a single entity ahead of a <\/strong>listing on the EGX<\/strong>, Public Enterprises Minister Hisham Tawfik told Bloomberg Asharq<\/a>. The new entity will be offered to investors in coordination with the Sovereign Fund of Egypt (SFE) in the coming months, he said.<\/p>\n

Which hotels will be merged is still TBC:<\/strong> The ministry hasn\u2019t yet evaluated the finances of hotels owned by the Holding Company for Tourism and Hotels (HOTAC), Tawfik said, adding that the plan would not include Nile Ritz-Cartlon, owned by Misr Hotels Company, which is already listed on the EGX.<\/p>\n

HOTAC owns several leading hotels<\/strong>, including the Cairo Marriott Hotel, Marriott Mena House, Luxor\u2019s Sofitel Winter Palace, and Aswan\u2019s Sofitel Legend Old Cataract, according to its website<\/a>.<\/p>\n

What we know: <\/strong>The Public Enterprise Minister\u2019s statements come a week<\/a> after the PM said a number of state-owned hotels would be merged and offered to domestic investors as part of government plans to privatize state-owned assets and boost the private sector\u2019s role in the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt will merge seven or eight state-owned hotels into a single entity ahead of a listing on the EGX, Public Enterprises Minister Hisham Tawfik told Bloomberg Asharq. The new entity will be offered to investors in coordination with the Sovereign Fund of Egypt (SFE) in the coming months, he said. Which hotels will be merged […]<\/p>\n","protected":false},"author":1,"featured_media":546615,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7321],"tags":[68,72,153,81,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-egx","tag-enterpriseam","tag-hisham-tawfik","tag-privatization-watch","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"1e20e3ec-470d-40fc-bd71-c08efcd42d82","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/298.jpg","photo_position":"above","related_issue":[546602],"teaser":"","voice_url":""},"yoast_head":"\nHotels to be listed on the EGX as part of state privatization plans -Tawfik - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hotels to be listed on the EGX as part of state privatization plans -Tawfik\" \/>\n<meta property=\"og:description\" content=\"Egypt will merge seven or eight state-owned hotels into a single entity ahead of a listing on the EGX, Public Enterprises Minister Hisham Tawfik told Bloomberg Asharq. 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The Public Investment Fund (PIF) could snag\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579120,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/govt-to-decide-on-hotel-privatization-within-two-months\/","url_meta":{"origin":546614,"position":1},"title":"Gov\u2019t to decide on hotel privatization within two months","author":"enterpriseam admin","date":"25 January 2023","format":false,"excerpt":"The Madbouly government plans to reassess which state-owned hotels will be merged into a new hotels company ahead of an offering to foreign and Gulf investors, a source in government told Enterprise. A decision will be made on which hotels to include within 6-8 weeks, the person said, adding that\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/445.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582095,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/the-states-new-hotel-company-is-ready-to-go-to-market-but-is-a-30-stake-enough\/","url_meta":{"origin":546614,"position":2},"title":"The state\u2019s new hotel company is ready to go to market \u2014 but is a 30% stake enough?","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"A new state-owned company that will own a portfolio of seven five-star properties nationwide could offer as much as 20-30% of its shares to private investors as part of the Madbouly government\u2019s privatization program, Hapi Journal reports. The seven hotels are now owned by the state\u2019s Holding Company for Tourism\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/marriott-menahouse-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546809,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/govt-could-sell-20-25-of-egyptalum-potentially-to-an-arab-sovereign-fund-25-of-new-state-owned-hotels-company-will-be-listed-on-the-egx\/","url_meta":{"origin":546614,"position":3},"title":"Gov\u2019t could sell 20-25% of Egyptalum, potentially to an Arab sovereign fund + 25% of new state-owned hotels company will be listed on the EGX","author":"enterpriseam admin","date":"30 May 2022","format":false,"excerpt":"The state plans to sell a stake in EGX-listed Egypt Aluminum (EgyptAlum) to a \u201cstrategic investor,\u201d Public Enterprises Minister Hisham Tawfik said at a conference yesterday, according to a press release (pdf). The ministry could sell a 20-25% stake to the investor, Tawfik separately told CNBC Arabia (watch, runtime: 3:55)\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547050,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/surprising-exactly-no-one-a-handful-of-mps-quail-at-the-notion-of-privatization\/","url_meta":{"origin":546614,"position":4},"title":"Surprising exactly no one, a handful of MPs quail at the notion of privatization","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"A handful of MPs are less than thrilled with the government\u2019s plan to offer a stake in the company it will create through a merger of seven or eight state-owned hotels, which have yet to be determined. A group of representatives in yesterday\u2019s plenary session at the House of Representatives\u2026","rel":"","context":"In "PARLIAMENT WATCH"","block_context":{"text":"PARLIAMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/parliament-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":588703,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/the-qataris-are-looking-at-our-hotels-report\/","url_meta":{"origin":546614,"position":5},"title":"The Qataris are looking at our hotels -report","author":"enterpriseam admin","date":"15 June 2023","format":false,"excerpt":"The fund is in talks with the Sovereign Fund of Egypt to acquire up to 30% of the hotels, according to sources","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/741.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546614"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546614\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546615"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546614"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546614"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}