Marriott currently operates 18 hotel properties, with contracts to add 23 hotels and two new hotel properties
The company aims to expand its investments in the Administrative Capital, El Alamein and the North Coast
Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade, held a meeting in the US capital, Washington, with senior officials of Marriott International as part of his official visit to the United States, to discuss opportunities to expand the group's investments in Egypt, strengthen cooperation in tourism and hospitality, and review the company's plans to develop new projects in a number of Egyptian tourist cities.
The meeting was attended by Faith Myers Colvin, the group's Vice President for Public Affairs and International Policy; Timothy Grisius, Global Officer for Business Development and Real Estate; and Jennifer Mason, Global Officer for Treasury and Risk Management.
During the meeting, the Minister of Investment stressed that the tourism and hospitality sector is one of the main drivers of economic growth under Egypt's Vision 2030 for sustainable development, which aims to attract 30 million tourists annually.
El-Khatib explained that the government is working to double the existing hotel capacity by encouraging local and foreign investment and offering diverse opportunities in new city projects such as the New Administrative Capital, New Alamein and the North Coast, as well as promising tourist areas on the Red Sea coast such as Hurghada and Ain Sokhna.
The minister noted that the state welcomes the participation of major global companies in developing hotels and tourism projects, stressing that Egypt is a strategic regional hub linking the Middle East, Africa and Europe, and has strong infrastructure and a stable investment climate that supports Marriott's global expansion plans.
El-Khatib reviewed opportunities for cooperation with local and international investment institutions to develop new hotel projects and repurpose distinguished sites of a historical character, helping to accelerate implementation and maximize the economic and tourism value of these projects, adding that these efforts reflect the government's vision of turning distinguished assets into drivers of sustainable investment and tourism attraction that support the national economy.
The Minister of Investment pointed to the success achieved by Marriott Residences projects in Egypt, stressing the government's keenness to support the expansion of this type of hotel-branded residential project, which attracts foreign investors and provides stable financial flows.
The minister also touched on ongoing government efforts to simplify investment procedures and facilitate project licensing through a unified digital platform, and to offer tax and non-tax incentives for major projects in the tourism, real estate and services sectors.
El-Khatib affirmed that the state is committed to enhancing the role of the private sector and applying the principle of competitive neutrality, while continuing to develop the legal and legislative frameworks that ensure ease of doing business and protect foreign investment, and enhancing transparency through integrated digital systems.
For her part, Faith Myers Colvin, Marriott's Vice President for Public Affairs and International Policy, praised Egypt's investment environment and the government's efforts to achieve economic stability, stressing Marriott's interest in expanding in the Egyptian market as a key pillar of the group's strategy in the region.
The group's Vice President for Public Affairs and International Policy explained that Marriott currently operates 18 hotels and hotel properties, with contracts in place to add 23 hotels and two new hotel properties.
Timothy Grisius also expressed his appreciation for the rapid development of Egypt's tourism and real estate sectors, noting that Marriott looks forward to increasing its investments through new hotel and residential projects in the Administrative Capital, El Alamein and the North Coast in the coming period.
The meeting concluded by emphasizing the importance of continued communication between the Ministry of Investment and Marriott International to follow up on the implementation of the proposed projects and expand areas of cooperation, enhancing Egypt's position as a leading tourism and investment destination in the region, according to the statement published on the Ministry of Investment and Foreign Trade's Facebook page.
