Travco subsidiary Jaz Hotel Group will add four hotels to its management portfolio in the first quarter (Q1) of 2020, the CEO of Jaz Hotels Group and Chairperson of the Egyptian Hotels Association in the Red Sea Alaa Akel said.
Akel said that the four hotels are under construction and will be inaugurated in Q1 2020.
Akel added that two out of the four hotels will be located in Safaga, with one located in Hurghada, and the other in Marsa Allam.
The total investment cost for the four hotels is EGP2.5bn with a total hotel capacity of 1,300 rooms, he said, adding the investment cost for one room is EGP 1.8m.
According to the Jaz Hotel group, it currently has 45 hotels and cruises across the governorates of Egypt with a capacity of 19,700 rooms.
Akel stated that the occupancy rate for Hurghada hotels reached an average of 50% in January and February.