EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
ODH's Hotels in Egypt re-open for business. Orascom Development Holding (ODH) announces the re-opening of El Gouna Hotels as of May 15 in time for the festive season of Eid Al-Fitr.
11-May-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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ODH's Hotels in Egypt re-open for business.
Orascom Development Holding (ODH) announces the re-opening of El Gouna Hotels as of May 15 in time for the festive season of Eid Al-Fitr.
Altdorf, May 11, 2020 - The Egyptian government has officially allowed the reopening of hotels and resorts on 15 May 2020 for domestic tourism, after being closed since March 19, 2020, as the Covid-19 pandemic spread across the world. Accordingly, ODH will gradually re-open its hotels in El Gouna starting May 15 with plans set to have all hotels there open for business by May 21, 2020 and will also re-open Taba Heights Hotels on May 21, 2020.
According to the government regulations, hotels will be permitted to operate at a maximum capacity of 25% until 1 June 2020 then at 50% by June 2020. The number of residents will be in accordance with guidelines of the World Health Organization (WHO) and medical measures, ensuring quality of personal protective tools and sterilization materials.
"We have used the time of the temporary suspension of the hotel operation to monitor WHO guidelines, government mandates and public health advancements to tailor and implement sanitation and staff training programs that ensure our hotels continue to provide a safe haven for our guests and staff", Abdelhamid Abouyoussef, ODH's Executive Committee member commented.
"Since International travel from/to Egypt is still closed, we expect domestic travel to pick up, with local occupancies increasing more than usual in El Gouna. Moreover, in appreciation of the situation and the travel uncertainties, the Group has released flexible booking terms and conditions. This initiative helped maintain decent short-term demand levels".
About Orascom Development Holding (ODH):
Orascom Development Holding (ODH) is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development's diversified portfolio of destinations is spread over seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with primary focus on touristic destinations. The Group currently operates nine destinations: four in Egypt (El Gouna, Taba Heights, Fayoum and Makadi Heights), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro and Andermatt in Switzerland. The shares of Orascom Development Holding (ODH) are listed on the SIX Swiss Exchange.
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