Arab International Company for Hotels and Tourism has allocated EGP 1bn to develop its Ramses Hilton hotel. The development process will be self-financed, the company’s Chairperson Amr Bahaa said on Thursday.
He revealed that the company will increase the hotel’s room rates to compensate for the development within six years.
The first phase of the development will include seven floors at a cost of EGP 140m in 10 months, he added.
This phase includes 200 rooms and 15 suites.
Bahaa explained that the timing of the development process was set according to the hotel’s upcoming reservations.
“The development of the entire hotel will take place within four years, and the company has contracted with Conserv Group to implement the development’s first phase,” he said.
Moreover, the company intends to develop the Hilton Sharm Waterfalls Resort after the renovation of Ramses Hilton.
“We addressed Cairo governorate for the features of the development project of the Maspero Triangle to ensure its consistency with the hotel’s building,” Bahaa said, adding that “the company aims to establish a marina on the Nile for the hotel guests.”