Yahia Kotub: Development of the Mövenpick Hotel Hurghada will begin during the second half of this year and the first phase will end in March 2026.
In the context of enhancing tourism investments in Egypt, Abu Dhabi Tourism Investment Company, owned by the Abu Dhabi Fund for Development, announced the signing of a management and operation agreement for the Hurghada Hotel today, Sunday, February 16, 2025, with the international company Accor, with the aim of changing the hotel’s brand from “Mercure” to ” Mövenpick ” and managing and operating the hotel, where Abu Dhabi Tourism Investment Company was represented by Yahia Kotub, CEO of the company, while Paul Stephens, CEO of the French company Accor, represented the international company for the Middle East region.
For his part, Mr. Yahia Kotub, CEO of Abu Dhabi Tourism Investment Company, revealed that this fruitful cooperation comes within the framework of completing the chain of success, as the international company Accor is the current operator of the hotel, and will continue to manage and operate the hotel after renaming and modernizing it. He added that Accor also manages the Mövenpick Hotel in Sharm El Sheikh, and is preparing to manage the new Sofitel Legend Hotel in Giza.
The CEO of Abu Dhabi Tourism Investment Company indicated that the volume of investments pumped into the development of the Hurghada Hotel has reached about 2.5 billion pounds in order to raise the efficiency of the hotel and develop its rooms, which are about 469 rooms.
The development operations are scheduled to begin during the second half of this year, and the first phase of development will end in March 2026.
He explained that this investment is part of the strategy of Abu Dhabi Tourism Investment Company to enhance its presence in the Egyptian market and develop the tourism infrastructure in line with international standards, as these projects aim to attract more tourists and provide luxurious hotel experiences that reflect Egypt’s rich cultural heritage.
He stressed that this project is expected to contribute to enhancing Hurghada’s position as a leading tourist destination on the Red Sea, by providing distinguished hotel services that meet the aspirations of local and international visitors. It is also expected to contribute to creating new job opportunities and supporting the local economy by enhancing investments in the tourism sector.
It is worth noting that Abu Dhabi Tourism Investment Company is 84% owned by the Abu Dhabi Fund for Development, 10% by Abu Dhabi National Hotels Company, while the remaining percentage is distributed among companies affiliated with the Egyptian Ministry of Public Business Sector.
