{"id":573691,"date":"2020-08-13T04:06:36","date_gmt":"2020-08-13T04:06:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/13\/national-bank-of-egypt-in-loan-talks-with-egoth-hotac-to-finance-hotel-renovations\/"},"modified":"2020-08-13T04:06:36","modified_gmt":"2020-08-13T04:06:36","slug":"national-bank-of-egypt-in-loan-talks-with-egoth-hotac-to-finance-hotel-renovations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/13\/national-bank-of-egypt-in-loan-talks-with-egoth-hotac-to-finance-hotel-renovations\/","title":{"rendered":"National Bank of Egypt in loan talks with EGOTH, HOTAC to finance hotel renovations"},"content":{"rendered":"

The Egyptian General Company for Tourism and Hotels (EGOTH) is in talks with the National Bank of Egypt (NBE) for a EGP 400 mn loan to finance renovations of the Sofitel Winter Palace Hotel in Luxor, according to the local press<\/a>. EGOTH \u2014 which is a subsidiary of The Holding Company for Tourism \u2014 will cover the remaining EGP 600 mn needed for the development. NBE is also in talks with the Holding Company for Tourism and Hotels for a EGP 1.2 bn loan to restore the historic Continental Hotel, Chairperson Mervat Hataba tells Al Mal<\/a>. The renovations are expected to cost EGP 1.7 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Egyptian General Company for Tourism and Hotels (EGOTH) is in talks with the National Bank of Egypt (NBE) for a EGP 400 mn loan to finance renovations of the Sofitel Winter Palace Hotel in Luxor, according to the local press. EGOTH \u2014 which is a subsidiary of The Holding Company for Tourism \u2014 will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9298],"tags":[2372,3211,72,248,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573691","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-egyptian-general-company-for-tourism-and-hotels","tag-enterpriseam","tag-national-bank-of-egypt","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"9876eb03-d720-497b-9cc5-94c2e3b5c78c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[573670],"teaser":"","voice_url":""},"yoast_head":"\nNational Bank of Egypt in loan talks with EGOTH, HOTAC to finance hotel renovations - 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\/2020\/08\/13\/national-bank-of-egypt-in-loan-talks-with-egoth-hotac-to-finance-hotel-renovations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Bank of Egypt in loan talks with EGOTH, HOTAC to finance hotel renovations\" \/>\n<meta property=\"og:description\" content=\"The Egyptian General Company for Tourism and Hotels (EGOTH) is in talks with the National Bank of Egypt (NBE) for a EGP 400 mn loan to finance renovations of the Sofitel Winter Palace Hotel in Luxor, according to the local press. 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The funds will be drawn out from the EGP 50\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570185,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/22\/egoth-in-talks-with-banks-for-egp-400-mn-loan-to-renovate-sofitel-winter-palace\/","url_meta":{"origin":573691,"position":1},"title":"EGOTH in talks with banks for EGP 400 mn loan to renovate Sofitel Winter Palace","author":"enterpriseam admin","date":"22 March 2020","format":false,"excerpt":"The Egyptian General Company for Tourism and Hotels (EGOTH) is in talks with unnamed local banks for a EGP 400 mn loan to refurbish its Sofitel Winter Palace hotel in Luxor, EGOTH Chairman Sherif Bendary said. The company recently signed a loan agreement for the same amount with the National\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569885,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/10\/egoth-saudis-al-sharif-group-sign-egp-1-4-bn-agreement-to-refurbish-shepheard-hotel\/","url_meta":{"origin":573691,"position":2},"title":"EGOTH, Saudi\u2019s Al Sharif Group sign EGP 1.4 bn agreement to refurbish Shepheard Hotel","author":"enterpriseam admin","date":"10 March 2020","format":false,"excerpt":"The Egyptian General Company for Tourism and Hotels (EGOTH) has signed a EGP 1.4 bn 35-year contract with Saudi Arabia\u2019s Al Sharif Group to refurbish downtown\u2019s long dormant Shepheard Hotel, the cabinet said in a statement. The restoration of the 316-room hotel, one of the oldest in Egypt, will be\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630199,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/govt-looks-into-setting-up-jv-with-emirati-company-to-develop-shepheard-hotel\/","url_meta":{"origin":573691,"position":3},"title":"Gov\u2019t looks into setting up JV with Emirati company to develop Shepheard hotel","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"The Public Enterprises Ministry is in talks with an unnamed Emirati company to set up a joint venture with the Egyptian General Company for Tourism and Hotels (EGOTH) to develop the Shepheard hotel in downtown Cairo, Al Mal reports. The agreement would see the Emirati company and EGOTH each holding\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625141,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/27\/egoth-invites-investors-to-participate-in-jv-to-develop-shepheard-hotel\/","url_meta":{"origin":573691,"position":4},"title":"EGOTH invites investors to participate in JV to develop Shepheard Hotel","author":"enterpriseam admin","date":"27 September 2018","format":false,"excerpt":"The Egyptian General Company for Tourism and Hotels (EGOTH) has invited hotel developers and investors to participate in a joint venture to develop the Shepheard Hotel in downtown Cairo, according to EGOTH head Mervat Hataba. EGOTH is offering investors a 51% share of the JV, and will accept investor offers\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577823,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-will-be-biggest-shareholder-in-future-exchanges-benya-borrows-big\/","url_meta":{"origin":573691,"position":5},"title":"EGX will be biggest shareholder in future exchanges + Benya borrows big","author":"enterpriseam admin","date":"6 December 2022","format":false,"excerpt":"CAPITAL MARKETS-The EGX is looking to take a majority stake in the planned futures exchange,EGX boss Ramy El Dokany said at a conference yesterday, according to AlMal. 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