19.7 C
New York
April 28, 2024
Abdel Fatah al-Sisi Africa Business Egypt Hospitality industry Hotels Middle East and North Africa news Travel World news

Desperate Egypt sells off historic hotels as it dives deeper into debt

Amid biting austerity and rising inflation, the al-Sisi government is off-loading assets – some to a convicted murderer with Emirati cash

As dusk fell over the verdant grounds of the Marriott Mena House hotel, the reflection of the Great Pyramid of Giza grew darker in a pool built to reflect the last of the seven wonders of the world.

A band played a smooth jazz rendition of the Eagles’ Hotel California on the grassy lawns as guests assembled for dinner, while the staff attempted to project a sense of business as usual, despite the hotel’s recent acquisition by an infamous Egyptian real estate tycoon, Hisham Talaat Moustafa, and two powerful Emirati conglomerates.

Continue reading…

Related posts

Boat capsizes off Libya, leaving 35 people dead or presumed dead

TheWorldsNews

Drone footage shows orcas chasing and killing great white shark

TheWorldsNews

Sole survivor of 2009 Comoros plane crash recalls terrifying ordeal

TheWorldsNews

Pin It on Pinterest

Share This