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The Orascom Hotels and Development company has become one of the largest destination development and hospitality companies in the Middle East. principally generate substantial income to cover infrastructure and development costs and enhancing the value of land in the Red Sea area, the Gulf of Aqaba, the UAE and Oman.
Hotel operators include Marriot, Sheraton, Inter-Continental, Hyatt Regency, Movenpick and others.
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Real estate revenue reached EGP 170 million in 2004, selling 338 units.
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Hotels revenue reached EGP 369 million in 2004, with an average room-rate of EGP 267.
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Real estate net profits reached EGP 70 million in 2004.
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Hotels net operating profits reached EGP 163 million in 2004.
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