Marriott International and Latif Group recently signed an agreement for a new Ritz-Carlton-branded resort in the Sinai Peninsula.
Inking the deal was founder and chairman, Latif Group of Companies, Nasser Abel Latif and president and managing director, Marriott International, Middle East and Africa, Alex Kyriakidis.
Expected enhance Egypt’s luxury hospitality scene following an investment of $600 million, The Ritz-Carlton, Sharm el-Sheikh will open its doors to the public in 2020. To be located in Sharks Bay, the resort will house 252 rooms, including 12 villas; three restaurants including two specialty restaurants; a number of pools; a destination spa with private treatment suites; and a range of water sports activities, as well as a large shopping complex.
Latif remarked on the news: “This is a momentous time for Egypt as we focus on the longer term investment and the development of tourism in our beloved country. I am excited to be partnering with Marriott International in bringing the iconic hotel brand to the Sinai Peninsula.”
Kyriakidis added: “This is the latest in a series of important landmark hotel signings and openings we have made in Africa, in Egypt in particular. We believe in Egypt, and we are thankful to our owners and partners, Latif Group of Companies, who have helped further our vision for growth and prosperity in this enigmatic country.”