CAIRO: Egyptian Resorts Company, a developer of mega-communities, has signed on global hotel and resort operator Nikki Beach to operate and manage a boutique hotel in Sahl Hasheesh.
ERC said in a statement that it signed a memorandum of understanding (MOU) with Nikki Beach Hotels and Resorts, which will provide assistance and advice on the construction, opening and international marketing of the 100-room boutique hotel.
The hotel will be located in the Sawari marina development, part of ERC’s flagship Red Sea destination Sahl Hasheesh.
The Sawari marina is being developed in partnership with Orascom Development and Management, a subsidiary of Orascom Development Holding. First units are set for delivery in 2014.
Nikki Beach Hotels and Resorts is a collection of upscale lifestyle properties at beachfront and urban locations worldwide. The project will also house a Nikki Beach club, meeting space, food and beverage facilities, a night club and a spa.
“We are very excited to be partnering with Nikki Beach to develop this key property in the Sawari marina, which sits at the heart of Sahl Hasheesh’s coastline,” said Carlos Arenas, director of strategy and business development at ERC.
Nikki Beach Hotels and Resorts operates boutique hotels and beach clubs in Miami, Saint Tropez, Marbella, Croatia, Cyprus, Greece, Cape Verde and Qatar.
“Convincing Nikki Beach to invest time and energy in Egypt is not just a win for Sahl Hasheesh and ERC, but for the Egyptian economy at large. …Top international players see outstanding profit potential in Egypt, particularly on the Red Sea Coast,” said Mohamed Kamel, CEO at ERC.
The MOU is valid for one year and is dependent on ERC’s ability to secure an investor/developer for the project.
