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Turkish Titanic Group to manage $180 million resort in Sharm El-Sheikh
Turkish group Titanic Hotels signed an agreement to manage the Titanic Luxury Collection hotel in Sharm El-Sheikh in the presence of Egyptian Prime Minister Mostafa Madbouly. The resort’s trial opening is scheduled to begin within 30 days, and it includes 560 rooms and 60 villas on a one-kilometer beach.
Turkish group Titanic Hotels has entered Egypt’s hotel market with its luxury brand, Titanic Luxury Collection, after signing an agreement to manage a new resort in Sharm El-Sheikh with investments of about $180 million, the Egyptian Cabinet said in a statement.
Egyptian Prime Minister Mostafa Madbouly attended the signing ceremony this week, along with Minister of Tourism and Antiquities Sherif Fathy, South Sinai Governor Major General Ismail Mohamed Kamal and the Turkish group’s executive director in Egypt.
The agreement was signed for the Turkish side by Muzaffer Aygün, managing director of Titanic Hotels, and for the Egyptian side by Hafez Bashir, chairman of the board of Gazal Real Estate and Tourism Investment, which owns the project.
560 rooms and 60 villas on the Red Sea coast
The resort was built with entirely Egyptian investments and stretches along a one-kilometer beach. It includes 560 hotel rooms and 60 villas, as well as sports facilities, a water park, a ballroom, a spa and several restaurants, including two operated by global brands entering the Egyptian market for the first time.
The hotel is classified as an ultra-luxury five-star property. Construction and operational preparations have been completed, while final preparations are under way for the trial opening to begin within the next 30 days.
The Egyptian Cabinet said Gazal selected the Turkish group as part of its efforts to attract global hotel brands and apply the highest operating standards. Hafez Bashir said the project demonstrates the importance of a partnership between Egyptian capital and global hotel expertise in increasing accommodation capacity and supporting Egypt’s position in luxury tourism.
Three more hotels planned
Bashir announced that Gazal, in cooperation with the Turkish group, is moving toward signing agreements to manage three additional hotels in Egypt.
Titanic Hotels manages hotels and resorts in Antalya, Bodrum and Istanbul, as well as four hotels in the German capital Berlin. Sharm El-Sheikh is its latest destination.
The agreement comes as Egypt estimates that it needs between 160,000 and 180,000 additional hotel rooms to meet its tourism targets, Hotel Management Network reported. At the same ceremony, another agreement was signed between Egypt’s PRE Group and the US hotel chain Hilton.
Photos: Egyptian Cabinet and Serhio Magpie (CC BY 4.0) via Wikimedia Commons
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