By: Abdullah Bedeir
Cairo – Mubasher: Time Hotels will sign 14 contracts to manage hotels in Egypt, Saudi Arabia, and the UAE until 2020, the hospitality firm's CEO said.
The UAE-based company is currently in talks with Egyptian companies to manage five or six hotels in the North African country over the coming two years, Mohamed Awadalla told Mubasher in an interview.
The hotel operator expected to sign three deals for managing hotels in Egypt in the next two months, Awadalla added.
The CEO further indicated that his firm would inaugurate Time Nozha Beach Hotel in Ras Sedr in December. The hotel will include 52 rooms, four suites, and 14 chalets.
About 33 new units which will be added to Ras Sedr-based hotel in 2019, and another 250 rooms before 2021, he said.
On Thursday, 18 October, Time Hotels inked a deal with Nozha Beach Company for Tourism Investment to manage Nozha Beach Ras Sedr Resort that comprises a village and hotel.
Time Hotels’ CEO said that his company is to sign a contract to manage six hotels in the UAE, two of them are set to be opened this year.
As for its investments in Saudi Arabia, the Emirati hospitality firm will manage two hotels, which are still under construction in the oil-rich Kingdom.
In a previous interview with Mubasher, Awadalla affirmed that his company was aiming to expand its hotel portfolio to 20 by 2020, launching a new hotel brand, inaugurating 99 furnished apartments, 61 villas, and more than 600 hotel rooms.
Translated by: Mohammad Hesham Azab
