Travco Group is working on founding four hotels in various tourist cities and is implementing a plan to renovate its fleet of tourist transport from local products.
According to Hamed El Chiaty, the company’s CEO, $120m are allocated to create four new hotels in the cities of Marsa Alam, Safaga, Hurghada, and Marsa Matrouh, with 1,200 rooms each costing around $100,000.
The company intends to complete the construction of the four hotels by the end of 2018 to be ready to receive guests in early 2019.
He said that the company is seeking loans and bank facilities to finance projects to be …read more
Source: Daily News Egypt
