64 hotels to be offered for privatization

Egypt will send details about 64 hotels earmarked for privatization to 30 to 40 institutions, Public Interpose Minister Atef Ebied told reporters.

He points out that his ministry would complete the preparatory documents by the beginning of July and send out the invitations to the potential investors in August.

The state hotel sector has fallen far behind in the government’s privatization program, despite a boon in tourism over the past two years.

The minister said hotels would be offered to investors in groups, which each group to operate as a single company.

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