{"id":684993,"date":"2026-02-17T00:00:00","date_gmt":"2026-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/tmg-taps-mandarin-oriental-to-operate-old-cataract-and-winter-palace\/"},"modified":"2026-02-17T00:00:00","modified_gmt":"2026-02-17T00:00:00","slug":"tmg-taps-mandarin-oriental-to-operate-old-cataract-and-winter-palace","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/tmg-taps-mandarin-oriental-to-operate-old-cataract-and-winter-palace\/","title":{"rendered":"TMG taps Mandarin Oriental to operate Old Cataract and Winter Palace"},"content":{"rendered":"

Talaat Moustafa Group (TMG) is handing over the operations of two of its <\/strong>landmark heritage hotels to<\/strong> Mandarin Oriental<\/strong>, the real estate and hospitality giant said in a statement (pdf)<\/a>. Under the agreement, the Hong Kong\u2013based global luxury hotel operator will take over the operations of the Old Cataract Aswan<\/strong> and the Winter Palace Luxor<\/strong> and relaunch them under the Mandarin banner in July 2027.<\/p>\n

Wasting no time: <\/strong>The hotel operator will assume management of Old Cataract in May, before beginning its extensive renovation of the property. Meanwhile, Winter Palace will undergo complete restoration before its relaunch.<\/p>\n

The move follows TMG\u2019s 2024 acquisition, through its hospitality arm Icon, of a 51% <\/strong>stake in the seven-hotel Legacy portfolio in <\/strong>a USD 800 mn transaction<\/a><\/strong>. The transaction expanded TMG\u2019s footprint across Cairo, Giza, Alexandria, Luxor, and Aswan. \u201cBy combining Mandarin Oriental\u2019s legendary service standards with TMG\u2019s long-term investment vision and local expertise, we are elevating these historic assets into world-class luxury destinations and reinforcing our position as a leading hospitality platform in Egypt,\u201d TMG CEO Hisham Talaat Moustafa said in the statement.<\/p>\n

TMG is doubling down on tourism:<\/strong> Hospitality and recurring income streams now account for more than half of the consolidated EBITDA of the country\u2019s largest real estate developer, according to the statement. Its hotel room capacity is projected to reach roughly 5k rooms, up from about 3.5k today. The group owns several Four Seasons properties in Cairo, Alexandria, and Sharm El Sheikh. It is also developing Four Seasons Luxor, Four Seasons Madinaty, a resort in Marsa Alam, and a Four Seasons hotel adjacent to the Grand Egyptian Museum.<\/p>\n

IN CONTEXT- <\/strong>Egypt welcomed around 19 mn tourists<\/a> in 2025, marking a 21% y-o-y increase, and is targeting 21 mn visitors<\/a> in 2026, then 30 mn visitors in 2030, as air connectivity improves and new hotel capacity comes online.<\/p>\n

Going big on Egypt: <\/strong>\u201cEgypt is one of the fastest growing global destinations and presents a rare [window] to create a journey that is both culturally rich and uniquely Mandarin Oriental,\u201d Mandarin\u2019s CEO Laurent Klietman said<\/a> in a separate statement. In addition to its partnership with TMG, Mandarin is preparing to reopen Shepheard Hotel in Cairo in 2027 under the agreement it signed with Saudi Arabia\u2019s Al Sharif Group in 2022<\/a>. It is also set to operate its first river luxury cruise between Luxor and Aswan following its recent agreement with Garranah Group. Mandarin currently operates a luxury portfolio<\/a> of 45 hotels, 15 residences, and 36 exceptional homes in 28 countries and territories.<\/p>\n","protected":false},"excerpt":{"rendered":"

The two hotels will see extensive renovations before reopening in July 2027<\/p>\n","protected":false},"author":1,"featured_media":684994,"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":[12540],"tags":[72,955,1423,1517,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hospitality","tag-enterpriseam","tag-hospitality","tag-mandarin-oriental","tag-talaat-moustafa-group","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"a36c8fe8-eab8-4628-b239-53e678feed8b","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/1065.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TMG taps Mandarin Oriental to operate Old Cataract and Winter Palace","related_issue":[684981],"teaser":"The two hotels will see extensive renovations before reopening in July 2027"},"yoast_head":"\nTMG taps Mandarin Oriental to operate Old Cataract and Winter Palace - 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We\u2019ll know in a few hours\u2019 time whether Ramadan begins tomorrow or on Thursday, as Dar Al Ifta is expected\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/197.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613332,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/adq-acquires-stake-in-7-egyptian-historic-hotels-through-40-5-share-in-tmg-subsidiary\/","url_meta":{"origin":684993,"position":2},"title":"ADQ acquires stake in 7 Egyptian historic hotels through 40.5% share in TMG subsidiary","author":"enterpriseam admin","date":"14 January 2024","format":false,"excerpt":"Abu Dhabi wealth fund ADQ acquired a 40.5% stake in Icon","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\/2024\/1\/751.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560324,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/also-on-our-radar-on-23-february-2021\/","url_meta":{"origin":684993,"position":3},"title":"Also on our radar on 23 February 2021","author":"enterpriseam admin","date":"23 February 2021","format":false,"excerpt":"Fawry intends to double its authorized capital to EGP 1 bn, according to documents submitted to the EGX picked up by the local press. The company also plans to raise its issued capital by EGP 100 mn to EGP 453.65 mn through the issuance of 200 mn freeshares as a\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569343,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/talaat-moustafa-to-set-up-four-seasons-branded-luxor-hotel-under-ppp-contract\/","url_meta":{"origin":684993,"position":4},"title":"Talaat Moustafa to set up Four Seasons-branded Luxor hotel under PPP contract","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"Talaat Moustafa Group (TMG) signed a contract with the Egyptian General Company for Tourism and Hotels (EGOTH) that will see TMG subsidiary Icon establish the planned Four Seasons-branded hotel in Luxor under a PPP framework, TMG said in a regulatory filing (pdf). The 200-room hotel is expected to cost up\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546614,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/","url_meta":{"origin":684993,"position":5},"title":"Hotels to be listed on the EGX as part of state privatization plans -Tawfik","author":"enterpriseam admin","date":"23 May 2022","format":false,"excerpt":"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\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\/2022\/5\/298.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\/684993","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=684993"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684993\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/684981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/684994"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=684993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=684993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=684993"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=684993"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=684993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}