TI’ME inks contract for Egypt
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TIME Hotels Management (TIME) announced the signing of a contract with Edris Group for the management of the Tuthotel property in Luxor, Egypt.
The boutique establishment has 79-rooms, and TIME will oversee a complete refurbishment of Tuthotel’s infrastructure, adding 82-rooms – to take its total inventory to 161-rooms – to upgrade it to deluxe four-star status in line with international standards.
The former Edris-managed hotel will forthwith trade under the name ‘TIME Tuthotel’. Edris group still own the property, which, after extensive renovation, is expected to be fully-operational by the end of this year.
Mohamed Al Mazroei, assistant managing director of Gulf General Investment Company (GGICO) – owner of TIME – said: “This announcement confirms our strong-minded and positive approach to our expansion plans for the Middle East.”
Samy Mahmoud, undersecretary of the ministry and head of Egypt’s international Tourism Sector, recently said Egypt’s tourism ministry expects to see a recovery in tourist figures to between 12 and 13 million in 2012, bringing in US$11 billion to the country.