Marriott International Signs Agreement to Bring Iconic St. Regis Brand to New Administrative Capital of Egypt With St. Regis Almasa
Marriott International, Inc. (NASDAQ: MAR) (www.Marriott.com) today announced that it has signed an agreement to open a St. Regis in the New Administrative Capital of Egypt, just outside of Cairo. In the second quarter of this year, The St. Regis Almasa is expected to occupy an existing luxury hotel at the entrance of the up-and-coming city that is slated to become the administrative and financial hub of Egypt.
"We are delighted to be working with the National Authority for Management & Investment on this exceptional conversion opportunity to bring St. Regis to Egypt's New Administrative Capital," said Jerome Briet, Chief Development Officer, Middle East and Africa, Marriott International. "This signing further enhances the St. Regis brand portfolio in Middle East and Africa and underscores the tremendous momentum that our luxury brands have in the region."
Speaking on the occasion, Colonel Waleed Samy Salama, CEO, National Authority for Management & Investment commented, "The National Authority for Management and Investment is pleased to start a relationship with Marriott International. The St. Regis Almasa will be positioned as the luxury hospitality hub in the New Administrative Capital and with the largest state-of-the-art convention center in Egypt, the hotel will be the ideal host to the country's largest events, conferences and summits. We are confident that this deal signing will play a vital role in the development of tourism in Egypt."
Also present during the signing ceremony were General Mohamed Amin Ibrahim Nasr, Advisor to the President of Egypt for Financial Affairs and Liam Brown, Group President Europe, Middle East and Africa, Marriott International.
With the population of greater Cairo expected to double in the next few decades, the government in Egypt announced plans to build the New Administrative Capital. Almasa Royal Palace, which the owner has operated for the past two years, is located adjacent to a 42,000-square-foot convention center that hosts official government conventions and events, as well as official foreign presidents' visits.
The hotel consists of 270 rooms, 90 suites, 60 apartments and 14 villas. Other facilities include outdoor and indoor swimming pools, a gym, spa, club house and 20 food and beverage outlets.
When it opens, The St. Regis Almasa is expected to encompass the hallmarks of the brand such as its rich traditions and rituals, and signature St. Regis Butler Service. Through a phased approach, areas across the hotel will undergo a refresh to deliver an on-brand experience in New Cairo whilst remaining open to guests.