Under the agreement, SUNRISE will collaborate with Minor to launch an expansion plan aimed at opening and managing 50 new hotels in Egypt.
The agreement was signed by Hossam El Shaer, Chairman of
SUNRISE Resorts and Cruises, and William E. Heinecke, Chairman of Minor
International, in the presence of Minister of Tourism and Antiquities Sherif
Fathi.
The Prime Minister stressed that tourism investment
represents a crucial pillar of the Egyptian state's current and future efforts.
He noted that the government is working to increase the number of hotel rooms
through partnerships with both domestic and international private sectors, in
light of concerted efforts to attract more tourists.
The partnership also involves real estate developer Madar,
with an initial launch plan to establish four major hotels within Madar's
projects: one in Azha Ras El Hekma, one in Kenz New Zayed, and two in Azha Ain
Sokhna.
Minor International manages a network of over 640 hotels
across 59 countries and six continents, offering more than 80,000 hotel rooms
and 3,000 restaurants, alongside over 50 leading brands.
SUNRISE Resorts and Cruises is a major luxury hospitality
brand in Egypt, with a portfolio of over 25 hotels and resorts in key tourist
locations like Sharm El Sheikh, Hurghada, and Ain Sokhna, plus seven Nile
cruise ships. The group also has an international presence in Greece, Morocco,
and Zanzibar.
SUNRISE’s investments extend to the real estate sector through Madar Developments, which holds a portfolio of major projects, including Kenz in New Zayed, Azha Ain Sokhna, and Azha Ras El Hekma, covering over 1,000 acres and more than 5,000 units.