Fairmont to Mange Second Property in Cairo
FEBRUARY 2, 2007. Fairmont Hotels & Resorts announced today that it will manage Fairmont Heliopolis, Cairo a new hotel scheduled to open summer 2007. Fairmont Heliopolis will encompass 235 rooms, extensive conference facilities, spa, atrium garden and dining outlets. The property is located in the central Heliopolis area and 10 minutes from the international airport.
In addition, the company has also assumed management of an adjacent hotel to the project. Formally known as the Sheraton Heliopolis, Fairmont will operate this 588-room property under the name Hotel Heliopolis prior to an extensive renovation period, which will include rooms, public areas and the building's facade. A third phase, to be completed at a later date, will consist of branded residences.
Project partners include Gulf - Egypt for Hotels & Tourism (GEHT); United Real Estate Co. (URC), one of Kuwait's largest real estate companies specializing in estate investment, property development and commercial, hospitality and entertainment property management in and outside Kuwait; and Kuwait Projects Company (KIPCO), Kuwait's largest private sector company with major activities in financial services, media & telecommunications, management & advisory, real estate and industry throughout the Middle East and North Africa.
The Fairmont Heliopolis will be the company's second flag in the city, joining Fairmont Nile City, currently under construction and set to open early 2008.
"We are pleased to offer our guests a second destination in Cairo, an important business and tourism destination in Egypt," said William R. Fatt, Fairmont's Chief Executive Officer. "This new property reinforces our expansion in the region and demonstrates our commitment to working with key partners to develop world-class properties and build upon our brand's global strength."
The owners look forward to revitalizing the community through this development project and selected the Fairmont brand based on its demonstrated record in renovating and managing some of the world's most iconic properties.
Additional Fairmont locations in the region include The Fairmont Dubai; the company will also reflag four hotels in Kenya (The Norfolk Hotel in Nairobi, the Mount Kenya Safari Club, the Ark and the Mara Safari Club) following $35 million in phased enhancements later this year. Future developments include Fairmont Palm Island and the Fairmont Palm Residences (2008), a second, 400-room property on the outer crescent of The Palm (2009), Fairmont Abu Dhabi Resort & Villas (2009) and Fairmont Zimbali, South Africa (2009).
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
