ADTIC to renovate Egypt hotel portfolio in 2021

10th September 2020 (Last Updated September 11th, 2020 15:50)

Abu Dhabi Tourism Investment Company (ADTIC) is set to carry out a significant hotel renovation project in Egypt throughout next year.

ADTIC to renovate Egypt hotel portfolio in 2021
ADTIC will refurbish three hotels in the four and five-star category. Credit: Engin Akyurt from Pixabay.

Abu Dhabi Tourism Investment Company (ADTIC) is set to carry out a significant hotel renovation project in Egypt throughout next year.

Abu Dhabi Fund for Development (ADFD) owns 84.3% interest in ADTIC.

The latest move is aimed at offering a momentum to the tourism as well as hospitality industry.

As part of this initiative, ADTIC will refurbish three hotels in the four and five-star category that are located in Cairo, Hurghada and Sharm El Sheikh. The company also owns a 99.28% interest in Arab Misr Hotels.

ADTIC chairman Mohammed Saif Al Suwaidi told media sources: “The hotel refurbishment initiative is aimed enabling Egypt to turn the current challenges brought about by the Covid-19 pandemic into an opportunity to gear up for the future.”

According to Al Suwaidi, once international airlines restart normal services, tourism sector in Egypt is expected to pick up.

ADTIC CEO Haitham Farouk said: “We expect many changes and we are preparing accordingly. The lean period is a golden opportunity to plan for the next step and focus on reopening.

“We look forward to reopening with brand-new look and recouping occupancy.”

Farouk indicated that after the Covid-19 pandemic, the tourism and hospitality industry is set to witness heavier application of digital tools and latest technology.

This would enable the industry to keep pace with the developments that are taking place in the industry across the globe.

The major phases of the refurbishment project are expected to conclude by the second half of next year.