CAIRO: Hyatt International said it will exit the Grand Hyatt Cairo “due to unresolved contractual disputes with the hotel’s owner,” according to a statement.
The hotel is owned by the Saudi Egyptian Touristic Development Company, based in Saudi Arabia, but has been managed by Hyatt since August 2003.
“For several weeks Hyatt has been attempting resolution through a series of urgent communications with the Saudi Egyptian Touristic Development Company. Regrettably, resolution of the disputes has not been possible,” the Hyatt added.
While the contractual disputes were “forcing” it to exit the property, “this does not diminish how important Egypt is and will remain to the Hyatt brand,” said Gebhard Rainer, managing director of Hyatt International.
“We will continue to operate two Hyatt hotels in Egypt, and are interested in pursuing new development opportunities there.”
The Saudi Egyptian Touristic Development Company has been notified of Hyatt’s exit, effective immediately, the statement read, which means that Hyatt will no longer be involved in the management of the hotel and the owner will no longer be permitted to use the Hyatt brand.
Hyatt management the Hyatt Regency hotels in the Red Sea resorts of Sharm El-Sheikh and Taba Heights, which will not be affected by the Cairo property exit.
The company said guests who have made reservations at Grand Hyatt Cairo through hyatt.com or the Hyatt reservation center should contact the hotel directly to confirm booking. Hyatt Gold Passport members will no longer be able to receive points or redeem points for stays at the hotel.
