Hurghada, Egypt - December 6, 2018: Unknown people walking on New Marina boulevard in Hurghada
The spot is called the Red Sea Riviera... Located near Hurghada, a popular seaside resort in Egypt, on the Red Sea coast, Rixos Hotels' new project includes the creation of a mega hotel with over 1600 rentals. With this location - the largest resort in the world - the group continues its expansion in the Middle East.
Rixos Hotels, the Turkish luxury hotel brand in which Accor acquired a 50% stake in 2017, has partnered with the Eastern Company for Investment and Touristic Development to acquire, renovate, and expand an existing property on the Egyptian Red Sea coast near Hurghada, about 300 km northeast of Luxor. The complex is scheduled to be completed in 2020. It should be relaunched under the name Rixos Hurghada Makadi Bay.
A win-win project
The project is expected to be carried out in two phases, each lasting one year, with the opening of 815 rooms and villas at the end of the first phase. In addition to the positive economic outlook for the brands, which are strengthening their presence in the region (they are already present in Alamein, Sharm El Sheikh, or Saadiyat Island off the coast of Abu Dhabi…), it is also good news for the economic development of the region itself, in that the opening of this type of complex is generally accompanied by numerous direct and indirect job creations.
This is an additional signal that Egypt is recovering, following the recent announcement of a further significant decline in inflation in the country.