Marriott International has signed a deal with Misr Italia Properties and People & Places Real Estate Development to build nine new hotels and resorts across Egypt, adding over 1,800 rooms and suites to the country’s coastal and urban destinations, Masrawy reported.
The agreement covers five mixed-use developments containing 11 hotels, branded residential units, and a standalone hotel.
The deal was signed by Shady Hassan, Marriott’s Vice President of Development for North Africa, alongside Misr Italia Properties co-CEOs and People & Places co-founders Mohamed Khaled El Assal and Karim Khaled El Assal.
Tourism Minister Sherif Fathy noted that expanding hotel capacity aligns with state efforts to boost tourism infrastructure and meet projected growth in incoming international visitors.
According to Mohamed Khaled El Assal, Misr Italia is committing over LE 56.7 billion to hospitality expansion. The projects are projected to generate around 6,000 direct and indirect jobs and accommodate up to 373,000 tourists annually.
Karim Khaled El Assal added that the combined efforts between the companies have so far developed a portfolio of more than 1,800 hotel rooms and branded residences across key regions in the country.
Marriott signs LE56 billion deal in Egypt with major 9-hotel expansion Egypt Independent.
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