IHG Hotels & Resorts has signed a management agreement with Mabany Edris, a well-known real estate owner and developer in Egypt, to open Holiday Inn New Assiut Asayla.

The hotel was signed at a ceremony in Egypt in presence of Abdel Fattah Al-Assi, assistant minister of tourism and antiquities. and Mohamad Anwar, deputy head of Urban Communities Authorities.

IHG has a strong legacy in Egypt, having opened its first hotel in 1980s, and currently operates over 2,000 rooms and have more than 800 rooms in the pipeline, across brands.

The announcement follows several high-profile signings this year, across IHG’ luxury and lifestyle, premium, essentials and suites collections, underscoring the company’s progressive expansion plans across the MEA region.

Once completed, Holiday Inn New Assiut Asayla will be IHG’s third Holiday Inn hotel in Egypt, joining Holiday Inn Cairo Maadi and Holiday Inn Cairo - Citystars.

Expected to open in early 2024, the 157-room property will be strategically located close to the city of Assiut along the banks of the Nile River.

The hotel is also near the main cultural monuments, the faculties of Assiut University and Sphinx University.

Commenting on the signing, Haitham Mattar, managing director, India, Middle East & Africa, IHG said: “As Egypt continues to appeal to business and leisure travellers, we are committed to accelerating our growth and diversify our offering to cater to the needs of varied guest profiles, and also supporting development of new cities and tourist destinations in the country.

“We are also very pleased with the strong progress we are making in expanding our presence in the mainstream segment across the MEA region.

“The region is poised for a new era of travel as it undergoes a historic period of growth and transformation, and we anticipate demand from a wider base of travellers who will look for wide-ranging hospitality options.”

He added: “We are excited about this new venture with our partner Mabany Edris who has a wealth of experience in the property sector locally, and we look forward to welcoming guests to this highly anticipated location in 2024.”