Egypt’s HOTAC to open El Tahrir Hotel this month

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Egypt’s Holding Company for Tourism and Hotels (HOTAC) is set to inaugurate El Tahrir Hotel within this January as a part of the company’s plan to inject new investments.

Egyptian Minister of the Public Business Sector Ashraf El-Sharkawy announced in a press conference that HOTAC turned into profitability earning 59 million Egyptian pounds ($3.2 million) during 2014/2015, and 278 million pounds during 2015/2016.

El-Sharkawy further stated that the profits of Chemical Industries Holding Company’s (CIHC) affiliates upped to 815 million pounds by the end of June 2016, compared of 679 million pounds during the same period of 2015.

In addition, Holding Company for Construction and Development (HCCD) has attained earnings estimated at 738 million pounds, added El-Sharkawy.