Historic hotels of Egypt will receive $368 million

Egyptian Group of Tourism and Hotels (EGOTH) was one of the creators of a new type of hotels in Egypt. The most significant hotels of the country from a historical point of view will now receive state support.

EGOTH Company today owns 22 hotels in Egypt. Part of the hotels, which are of exceptional historical value, will now be promoted in the tourist market of the country under the brand of Historic Hotels of Egypt.

EGOTH plans to allocate $ 368 million for the project of reconstruction and rebuilding of the former grandeur of the best hotels in Egypt. According to the EGOTH head Nabil Selim, this amount must be drawn by the end of 2013.

Several hotels, which are presented under the brand of Historic Hotels of Egypt, are already experience massive restoration. Among them is the legendary hotel in Cairo - The Shepheard Hotel. The hotel, which was built in 1841, is being restored under the patronage of the Rocco Forte Luxury Collection hotel chain since July 2010.

Old Cataract Hotel in Aswan, which in its time hosted Winston Churchill and Princess Diana, will be opened after restoration in 2011. Nile Ritz Carlton Cairo Hotel in Cairo, another hotel legend of Egypt, will be restored and opened in 2013.

Among the hotels that are also part of the Historic Hotels of Egypt - Mena House Oberoi at the foot of the Pyramids, Marriott in Cairo, The Palestine Hotel and the Cecil Hotel in Alexandria, and Winter Palace - a hotel in Luxor.

Historic Hotels is one of the most striking trends of recent years in the hotel industry. To date, the network of historic hotels exists in Europe, the USA and Canada. Some of them are privately owned, and some are supported by the state.

According to the EGOTH head, individuals will also be able to invest in reconstruction of the hotels in Egypt.