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Travco Group to boost hotel capacity in 2023 with EGP 7B in investments

The group will directly finance 60% of the investments, with the remaining to be funded through loans from banks, the CEO revealed.
25.01.23 | Source: Arab Finance

Egyptian travel and tourism company Travco Group is planning to invest EGP 7 billion in 2023 to boost its hotel capacity, Group CEO Hamed El Chiaty told Asharq Business on January 22nd.


The group is intending to boost its hotel capacity by 13% to 17,000 rooms this year, El Chiaty noted.


Through these investments, Travco aims to keep up with the current activities of the tourism sector in Egypt, he added.


The group will directly finance 60% of the investments, with the remaining to be funded through loans from banks, the CEO revealed.

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