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EGYPT: CHI HOTELS & RESORTS TO MANAGE CORINTHIA BEACH RESORT

Wednesday, 10 Sep 2008

Cyrene Tourism Investment Corporation of Egypt and CHI Hotels & Resorts have announced that they have signed a management agreement to manage two recently launched high-end Egypt properties in the fashionable Sharm el Sheikh resort. The hotels are to become part of a new holiday resort that will be called the Corinthia Beach Resort. This luxury Egypt property, situated on a lovely beachfront in Montazah, Sharm El Sheikh, will boast 5 stars.

The Corinthia Hotel, which is due to be launched towards the end of 2009, will have 220 luxury suites, independently managed restaurants, an outdoor pool, beach service and clubhouse. The Tiran Island Hotel is going to have 600 rooms, and will be a 4-star establishment with a variety of luxurious residential suites, guest rooms and self-catering apartments that will provide ideal family holiday accommodation in Egypt. This hotel is due to open its doors to the public at the beginning of 2009, and will have a selection of top-class restaurants, a spa, outdoor pools, bars and entertainment, as well as conference rooms.

The Corinthia Beach Resort property in Egypt will also offer a selection of pricing options to suit every pocket, which include fully inclusive board, half board, bed and breakfast and even room only.

H Mansouri, chairman and CEO of Cyrene Tourism Investment Corporation of Egypt, the company that owns the resort, signed the management agreement for these two properties in Egypt with Paul Pisani, vice president development of CHI. Mansouri expressed his pleasure at joining forces with CHI on this venture, thereby enjoying the benefits of a management company with an excellent track record in the running of 5-star hotels internationally. He said that he was confident that he had entrusted the multi-million dollar project to safe hands.