Rixos Hotels signs milestone deal to operate its largest resort on Egypt’s Red Sea Riviera
Rixos Hotels has marked a major milestone in its Middle East expansion strategy after signing an agreement to manage its largest all-inclusive luxury resort in the world on Egypt’s Red Sea Riviera.
Since Accor acquired a 50% stake in the company, it has identified opportunities including partnering with the Eastern Company for Investment and Touristic Development to take over and renovate an existing beachfront property. Scheduled for completion in 2020, it will be re-launched as the Rixos Hurghada Makadi Bay.
“This marks a pivotal moment in the growth story of our brand, bringing to market our largest resort globally and offering our most comprehensive range of facilities and unique and dynamic entertainment experiences yet,” said Fettah Tamince, Founder and Chairman of Rixos Hotels.
“We are delighted to partner with the Eastern Company for Investment and Touristic Development to launch this flagship project, which will set a new benchmark for luxury all-inclusive all-exclusive resorts in Egypt and the wider Middle East.”
Mahmoud El-Sayed Moussa El-Sharkawy, CEO, the Eastern Company for Investment and Touristic Development, added: “Our vision is to transform Makadi Bay into the leading leisure and entertainment destination on the Red Sea and in this respect, the Rixos brand, with its successful one-of-a-kind hospitality concept and proven expertise operating in Egypt’s resort market, makes strategic sense. It’s the perfect fit.”
Rixos Hurghada Makadi Bay represents the first project of its kind since Accor joined forces with Rixos in 2017, strengthening the brand’s footprint to four resorts in Egypt where its already operates properties in Alamein and Sharm El Sheikh and eight across the Middle East.
“This unique takeover opportunity strengthens the Rixos offering in Egypt’s Red Sea Riviera and highlights the strong collaboration Accor has established with Rixos team to develop the brand regionally and globally,” said Mark Willis, CEO, Accor Middle East & Africa.
“We would like to thank all the parties involved in this landmark project, which offers the right mix of elements in terms of scale of inventory and facilities to embody the Rixos business model and to boost awareness of its exclusive luxury offering in key regional and global markets.”
Established in 2000, Rixos Hotels is a Turkey-based luxury brand with a global portfolio of 25 hotels in 7 countries, 17 of which are operated as w…
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