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Egypt – Travco Group to invest EGP 3.8 bn in the tourism sector

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Egypt – Travco Group to invest EGP 3.8 bn in the tourism sector

Travco Group, one of the leading destination management companies in Egypt, is planning to inject new investments worth EGP 3.8 billion in the hotels sector, as a result of witnessing a growth in Egypt’s tourism sector.

In particular, the plan contemplates the development of 11 hotels, with two hotels to be established during 2015 in Sharm Al-Sheikh and Hurghada at an investment cost worth EGP 750 million, and another 9 hotels to be established during the coming period in different areas include Safaga, Marsa Alam, Sharm Al –Sheikh and Hurghada.

Chairman of the company, Hamed El Chiaty, said that the recent Economic Summit had plenty in favour of the tourism sector. He further said that the time is right for promoting Egyptian tourism using modern methods in order to increase Egypt’s share in the global tourism market, reaching 30 million tourists over the next few years.

Source: www.dailynewsegypt.com

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Travco Group, one of the leading destination management companies in Egypt, is planning to inject new investments worth EGP 3.8 billion in the hotels sector, as a result of witnessing a growth in Egypt’s tourism sector.

In particular, the plan contemplates the development of 11 hotels, with two hotels to be established during 2015 in Sharm Al-Sheikh and Hurghada at an investment cost worth EGP 750 million, and another 9 hotels to be established during the coming period in different areas include Safaga, Marsa Alam, Sharm Al –Sheikh and Hurghada.

Chairman of the company, Hamed El Chiaty, said that the recent Economic Summit had plenty in favour of the tourism sector. He further said that the time is right for promoting Egyptian tourism using modern methods in order to increase Egypt’s share in the global tourism market, reaching 30 million tourists over the next few years.

Source: www.dailynewsegypt.com

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