Arab Finance: Prime Minister Mostafa Madbouly witnessed the signing of a strategic partnership agreement between Sunrise Resorts & Cruises and Thai hotel giant Minor International to open and manage 50 new hotels in Egypt, as per a statement.
Madbouly emphasized that investment supports the government's current and future efforts to increase the number of hotel rooms in partnership with the private sector, both locally and globally.
The alliance also includes Madar Developments, which will launch four major hotels across Ras El-Hekma, New Zayed, and Ain Sokhna.
Minor International is one of the world's largest hotel entities, operating a network of more than 640 hotels in 59 countries across six continents. The group offers over 80,000 hotel rooms and more than 3,000 restaurants, spanning 50 leading brands.
Meanwhile, Sunrise Resorts has a remarkable portfolio exceeding 25 hotels and resorts in prime tourist locations such as Sharm El Sheikh, Hurghada, and Ain Sokhna, in addition to seven floating hotels on the Nile.
Its expansion into several international tourist markets, including Greece, Morocco, and Zanzibar, has anchored its position as one of the most prominent hotel operators in the Egyptian and international markets.