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ERC and Nikki Beach Resorts sign MoU for management & operation of boutique hotel in Sahl Hasheesh

Egyptian Resorts Company announced that it has signed a memorandum of understanding (MOU) with Nikki Beach Hotels and Resorts.

Egyptian Resorts Company, Egypt's leading master developer of mega?communities, announced that it has signed a memorandum of understanding (MOU) with Nikki Beach Hotels and Resorts for the operation and management of a 100?room boutique hotel to be built at Sahl Hasheesh, ERC's unique, purposebuilt Red Sea destination.

The boutique hotel will be located on a key beachfront property in Sahl Hasheesh's Sawari marina development.

Nikki Beach Hotels and Resorts is a collection of upscale lifestyle properties at desirable beachfront and urban locations worldwide. The project will accommodate, on top of the 100?room hotel, the world renowned Nikki Beach club, meeting space, food and beverage facilities, a night club and a luxurious Spa.

"We are very excited to be partnering with Nikki Beach to develop this key property in the Sawari marina, which sits at the heart of Sahl Hasheesh's coastline," said Carlos Arenas, Director of Strategy and Business Development at ERC. "It is very rewarding to have a top global brand seeking out Sahl Hasheesh, and we look forward to jointly raising local and international consumer awareness of both Sahl Hasheesh and Sawari marina."

Nikki Beach Hotels and Resorts has broad experience operating and managing boutique hotels and beach clubs at key tourist destinations including, among others, Miami, Saint?Tropez, Marbella, Croatia, Cyprus, Greece, Cape Verde and Qatar. In addition to operating and managing the new luxury property, Nikki Beach will consider branding some of the more distinguished Sawari residences.

As the crown jewel of Sahl Hasheesh, Sawari will become the Red Sea Coast's premier marina, enhancing Sahl Hasheesh's appeal as a top destination in the area for second?home owners and property investors from across Europe and the Gulf. The Sawari marina is being developed in partnership with Orascom Development and Management, a subsidiary of Orascom Development Holding. First units are set for delivery in 2014.