An affiliate of Hyatt Hotels Corp. has entered into a franchise agreement with Egypt-based AlDau Development Group for a Hyatt-branded hotel in Cairo.
When it opens in the last quarter of 2020, the Hyatt Regency Cairo West will mark Hyatt's return to Egypt’s capital and will join the Hyatt Regency Sharm El Sheikh. The property will have 242 guestrooms; five restaurants, bar and lounges; a fitness center; an outdoor heated swimming pool; and a casino adjacent to the building. For meetings and events, the property will have seven meeting rooms, a 4,628-square-foot Grand Ballroom that can accommodate up to 500 guests, outdoor function areas and 360-degree digital projector technology.
“We’re thrilled to announce the return of the Hyatt brand to Cairo and are focused on the increased tourism figures and continued development in and around the capital city,” Ludwig Bouldoukian, regional VP of development, Middle East and North Africa for Hyatt, said in a statement. “Hyatt Regency Cairo West will be a great addition to our growing portfolio in North Africa.”
Last year, hotels in the greater Cairo and Giza region reported occupancy growth of 11 percent to 72.5 percent, according to STR. Average daily rate was up 10.8 percent to EGP1,713.35 and revenue per available room increased 23.1 percent to EGP1,242.20. Overall, the absolute occupancy level was the highest for Cairo and Giza since 2008, while the ADR value was the highest STR has ever benchmarked for the submarket.