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English news

18-Nov-2018

EGOTH to sell 51% stake in Grand Continental Hotel

The state-owned Egyptian General Company for Tourism and Hotels (EGOTH) is planning to sell a 51% stake in the Grand Continental Hotel project, EGOTH Chairperson Mervat Hataba told Al Mal. EGOTH is planning to form a JV with the private sector to manage the site of the hotel. A tender to the private sector will be held, she added. The government plans to build a new hotel at the site of the original, while maintaining similar periodic architectural design.