ADTIC partners with Accor to rebrand, operate 469-Key Hurghada Hotel

EGYPT – Abu Dhabi Tourism Investment Company (ADTIC), a majority-owned subsidiary of the Abu Dhabi Development Fund (ADFD), has partnered with Accor to rebrand and manage its 469-key hotel located in Hurghada, Egypt, on the Red Sea coast.

ADTIC is set to undergo a major renovation of its Mercure Hurghada property, transitioning it to a Mövenpick-branded hotel.

Yahia Kotub, CEO of ADTIC, announced that the company plans to invest EGP 2.5 billion (US$49 million) into the upgrade.

The renovation is scheduled to begin in the second half of 2025, with the first phase expected to conclude by March 2026.

Accor, which already manages the Mövenpick Hotel in Sharm El Sheikh, will also take charge of operations at the upcoming Sofitel Legend Hotel in Giza, as revealed in the company’s statement.

ADTIC is primarily owned by the Abu Dhabi Development Fund (ADFD), which holds an 84% stake, while the Abu Dhabi National Hotels Company (ADNH) owns 10%.

The remaining shares are distributed among various Egyptian tourism and hotel firms linked to the Ministry of Public Business Sector.

This move represents ADTIC’s continued expansion into the Egyptian market through strategic investments.

In a significant development from November, ADTIC entered into a partnership with Accor to manage the Sofitel Legend Pyramids Hotel near the Grand Egyptian Museum in Giza.

The luxury hotel, which will feature 303 rooms, carries an investment of approximately $100 million.

Groundbreaking is slated for December 2024, with an anticipated opening in May 2027.

Kotub expressed that the collaboration with Accor would bring together French luxury with Egypt’s rich heritage, offering a new luxury experience in Giza.

This partnership underscores ADTIC’s commitment to enhancing Egypt’s luxury tourism sector while promoting the historical and cultural richness of the Giza area.

The company’s expansion strategy also includes emerging tourist destinations such as Aswan, Marsa Alam, the North Coast, New Cairo, and Downtown Cairo.

In addition to hotel projects, ADTIC is exploring acquisitions in the restaurant and broader hospitality industry.

With the majority stake held by ADFD, and smaller shares owned by ADNH and Egypt’s Ministry of Public Business Sector affiliates, ADTIC is poised for growth.

The company’s portfolio now includes Mövenpick Sharm El Sheikh and Mercure Hurghada, with the Sofitel Legend Pyramids Hotel set to become its third major hospitality development.

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