TI’ME for an upgrade in Luxor

TI’ME Hotels Management secures contract for Egyptian Nile resort property at Arabian Travel Market and plan major refurbishment to existing infrastructure as Egypt’s tourism industry moves forward TIME Hotels Management (TIME), the new UAE-based hotel group, announced at Arabian Travel Market today (May 2) that they have signed a contract with Edris Group – a major Egyptian-based travel and tourism company – for the management of the Tuthotel property in Luxor, Egypt. The boutique establishment has 79-rooms, and TIME will oversee a complete refurbishment of Tuthotel’s infrastructure, adding 82-rooms – to take its total inventory to 161-rooms – to upgrade it to deluxe four-star status in line with international standards. The former Edris-managed hotel will forthwith trade under the name ‘TIME Tuthotel’. Edris group still own the property, which, after extensive renovation, is expected to be fully-operational by the end of this year. Mr. Mohamed Al Mazroei, Assistant Managing Director of Gulf General Investment Company (GGICO) – owner of TIME – said: “I am thrilled to be signing a contract that promises so much for our young company. “This auspicious announcement confirms our strong-minded and positive approach to our expansion plans for the Middle East, and demonstrates our commitment to providing our guests with the very best accommodation options in the region.” Mr. Ahmed Edris, Chairman, Edris Group, said he was looking-forward to working with TIME: “I’m really optimistic about the future of the Tuthotel property now that its management is in the hands of TIME, which in my opinion, is one of the most ambitious brands in the Middle East hospitality industry.” Overlooking the world-famous River Nile, and situated just 25 kilometres from the Luxor International Airport, and a mere ten-minute walk away from the local train station Mohamed Awadalla, Area Vice President, TIME, says the property is ideally situated for regional and international leisure travellers: “Located in Luxor, away from the noise and chaos of Egypt’s big cities, TIME Tuthotel will offer leisure travellers a tranquil retreat with stunning views of ‘the great river’ – remarkable for its centrality to ancient cultures and the modern world. “And being located on the Nile, we will be well-positioned to implement a variety of tourist initiatives in collaboration with local tour operators and businesses including Nile cruises, Luxor and Karnak temple day-trips. “What’s more guests can also access the traditional tourist hot-spots. With the train station in close proximity the property accessibility to the millennia-old Pyramids and Sphinx in Giza, and the Sinai Peninsula are only a train journey away.” With its pharaonic antiquities and year-round warm beaches, tourism is Egypt’s top foreign currency earner, and the source of over a tenth of the country’s gross domestic product (GDP). Furthermore, it represents one of the Middle East North Africa’s (MENA) most important hospitality sectors. Though political unrest has somewhat abated Egypt’s tourism arrivals over the last year, its historic sites remain a major attraction for tourists worldwide, says Mr. Awadalla. “The long-term potential of the Egyptian travel and tourism market cannot be questioned due to its proximity to Europe and its rich abundance of natural and cultural assets. “And despite the declines in the country’s tourism revenue, a recent STR Global Construction Pipeline Report shows that nearly 5,000 rooms are being developed in the country, reinforcing my point,” he added. Indeed, Samy Mahmoud, undersecretary of the ministry and head of Egypt’s international Tourism Sector, recently said Egypt’s tourism ministry expects to see a recovery in tourist figures to between 12 and 13 million in 2012, bringing in $11 billion to the country. -ENDS- Photo Caption: From left to right: Mr. Mohamed Al Mazroei, Assistant Managing Director, GGICO, Mr. Ahmed Edris, Chairman, Edris Group and Mr. Mohamed Awadalla, Area Vice President, TIME Hotels Management sign the contract for the Tuthotel in Luxor, Egypt. About TIME Hotels Management: TIME Hotels Management is well-capitalised with significant management expertise and has ambitions to evolve into one of the leading hospitality businesses in the UAE. TIME Hotels Management are owned by the public shareholding company Gulf General Investment Company (GGICO) and Investment Group Private Ltd (IGPL). TIME currently manage the following properties: TIME Oak Hotel & Suites in Al Barsha, Dubai TIME Grand Plaza Hotel in Al Qusais, Dubai TIME Opal Hotel Apartments, Dubai TIME Crystal Hotel Apartments, Dubai TIME Topaz Hotel Apartments, Dubai TIME Ruby Hotel Apartments, Sharjah The properties comprise a total of 745 rooms, and employ over 400 staff. Media contact: Nathalie Viselé Director Shamal Marketing Communications Dubai, United Arab Emirates Tel: +971 4 3652711 Mobile: +971 50 457 6525 E-mail: nathalie@smc-pr.com Website: www.smc-pr.com OR Thomas Billinghurst Account Executive Shamal Marketing Communications Dubai, United Arab Emirates Tel: +971 4 3652711 Mobile: +971 55 827 6198 Email: Thomas@smc-pr.com          

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