Egypt’s EGOTH Targets EGP 2 Billion Net Profit in 2026/2027 Budget Amid Major Hospitality Expansion Plans
Egyptian General Company for Tourism and Hotels (EGOTH), a subsidiary of the Holding Company for Tourism and Hotels, is targeting net profits of EGP 2 billion during the 2026/2027 fiscal year, as part of an ambitious strategy to expand its hospitality and tourism portfolio across Egypt.
The company’s general assembly approved the estimated budget for the upcoming fiscal year during a meeting chaired by Mohamed Maged El Menshawy, Chairman of the Holding Company for Tourism and Hotels, attended by senior executives and representatives from the Central Auditing Organization.
According to the approved budget, EGOTH also expects total revenues of approximately EGP 3.2 billion, reflecting a strategic focus on strengthening financial performance and maximizing returns from its tourism and hospitality assets.
As part of its expansion plans, the company approved an investment budget worth EGP 4.5 billion to support major tourism and hotel projects, modernize existing assets, and enhance competitiveness within Egypt’s hospitality sector.
Among the flagship projects is the revival of the historic Continental Hotel in Downtown Cairo, originally dating back to 1870. The redevelopment project will introduce the Indian luxury hospitality brand Taj to the Egyptian market for the first time through a management agreement with Indian Hotels Company Limited.
EGOTH is also continuing the redevelopment of the iconic Shepherd Hotel on the Nile Corniche, aiming to reinforce its status as one of Cairo’s landmark hospitality destinations.
The company’s 2026/2027 investment plan further includes coastal expansion projects such as the modernization of Retac hotels in Dahab and Arish, new extensions at Aura Hotel on the North Coast, and the development of Jet Beach Hotel in Ain Sokhna.
In addition, EGOTH plans to launch several mixed-use developments, including a hotel, residential, commercial, and administrative complex in Port Said, alongside a new hospitality project at Misr Tourism Tower in Abbassia. The company is also finalizing legal procedures to transform Alexandria’s historic Cotton Palace building into a tourism destination.
The company stated that these projects reflect its broader strategy to preserve and maximize the value of Egypt’s historic and modern hospitality assets, while supporting the country’s ambitions to strengthen its position as a leading global tourism destination.