Latest news with #ADDDevelopments
Egypt Today
20 hours ago
- Business
- Egypt Today
Tourism min.: 26% rise in inbound tourism to Egypt from Jan. to May 2025
The minister made the remarks while attending - on behalf of Prime Minister Moustafa Madbouli - the official inauguration of the Hyatt Centric Cairo West Hotel, the first art-inspired hotel in Egypt and Africa whose design focused on contemporary Egypt and its identity, according to the ministry's statement. Fathy said the Egyptian government and the tourism sector welcomed such investments which contribute to enhancing Egypt's tourism infrastructure and create new job opportunities. He stressed the importance of training tourism workers, especially developing their soft skills, referring to plans to launch an electronic training platform, "Learning Management System," in cooperation with the Egyptian Federation of Tourism Chambers to train both ministry employees and private sector workers. The minister highlighted the ambitious target of attracting 30 million tourists annually, which requires concerted efforts to provide necessary infrastructure such as hotels, airports, and airline seats. He praised the successful cooperation between local and international sectors, commending the inking of a strategic memorandum of understanding between ADD Developments and the international group of Hyatt Hotels. He noted that the premier witnessed the signing of the MoU which aims to establish more high-standard hotels in Egypt. Fathy also pointed out the urgent need to double the number of hotel rooms in Egypt over the next five years to accommodate the growing number of tourists; a significant challenge but a necessity given the positive trends in the tourism sector. Meanwhile, Bassel Sami, the Chairman of ADD Developments, voiced appreciation for the premier and the tourism minister for their support of the distinguished hotel project which he considered as a strategic step under an ambitious expansion plan to increase hotel capacity in Egypt. For his part, Javier Águila, the Group President for Europe, Africa, and the Middle East at Hyatt, said the new hotel is a landmark for the Hyatt Group. He stressed that choosing the hotel's location in West Cairo was deliberate due to its proximity to the Grand Egyptian Museum and the Giza Pyramids, highlighting plans for similar future projects. The opening of the hotel coincided with the launch of the new residential project Hyatt Centric Cairo West Residences.
Zawya
a day ago
- Business
- Zawya
Hyatt, Egypt's ADD Developments sign deal for hotel expansion
Egyptian developer ADD Developments and Hyatt Hotels Corporation have signed a strategic memorandum of understanding to expand their hotel and branded residential investments in Egypt, backed by an investment plan of approximately $265m. The Tuesday signing ceremony was witnessed by Egypt's Prime Minister Mostafa Madbouly and attended by Minister of Tourism and Antiquities Sherif Fathy. The agreement aims to increase hotel room capacity to meet the expected growth in tourist numbers to Egypt. Madbouly welcomed the agreement, stating: 'We welcome this cooperation as a supportive step toward establishing Egypt's position as a global investment and tourism destination.' The MoU was signed by Javier Águila, Group President for Europe, Africa, and the Middle East at Hyatt, and Basel Sami Saad, Chairperson of ADD Developments, which is part of the Sami Saad Holding group. The Minister of Tourism and Antiquities, Sherif Fathy, said the agreement reflects the confidence of major global institutions in the future of the Egyptian economy and the potential of its tourism market. He described it as an important step toward increasing the capacity of hotels and branded residential units to accommodate expected growth in tourism. The minister affirmed his ministry's full support for 'this type of qualitative investment that merges international quality with a unique Egyptian character,' adding that it will help provide innovative hospitality experiences. The investment plan, which is supported by an international financial institution, totals around $265m and is designatedfor developing and increasing the number of hotel rooms and branded residential units. The cooperation builds on ADD Developments' reintroduction of the Hyatt brand to Egypt in 2022 with the opening of the 250-room Hyatt Regency Cairo West. Following that opening, ADD launched the 304-room Hyatt Centric Cairo West, which is described as the first art-focused hotel in Egypt and Africa and features the work of 11 Egyptian artists.
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Hyatt, Egypt's ADD Developments sign MoU for hotel expansion
Egyptian developer ADD Developments and Hyatt Hotels Corporation have signed a strategic memorandum of understanding to expand their hotel and branded residential investments in Egypt, backed by an investment plan of approximately $265m. The Tuesday signing ceremony was witnessed by Egypt's Prime Minister Mostafa Madbouly and attended by Minister of Tourism and Antiquities Sherif Fathy. The agreement aims to increase hotel room capacity to meet the expected growth in tourist numbers to Egypt. Madbouly welcomed the agreement, stating: 'We welcome this cooperation as a supportive step toward establishing Egypt's position as a global investment and tourism destination.' The MoU was signed by Javier Águila, Group President for Europe, Africa, and the Middle East at Hyatt, and Basel Sami Saad, Chairperson of ADD Developments, which is part of the Sami Saad Holding group. The Minister of Tourism and Antiquities, Sherif Fathy, said the agreement reflects the confidence of major global institutions in the future of the Egyptian economy and the potential of its tourism market. He described it as an important step toward increasing the capacity of hotels and branded residential units to accommodate expected growth in tourism. The minister affirmed his ministry's full support for 'this type of qualitative investment that merges international quality with a unique Egyptian character,' adding that it will help provide innovative hospitality experiences. The investment plan, which is supported by an international financial institution, totals around $265m and is designatedfor developing and increasing the number of hotel rooms and branded residential units. The cooperation builds on ADD Developments' reintroduction of the Hyatt brand to Egypt in 2022 with the opening of the 250-room Hyatt Regency Cairo West. Following that opening, ADD launched the 304-room Hyatt Centric Cairo West, which is described as the first art-focused hotel in Egypt and Africa and features the work of 11 Egyptian artists.
