Daily Newsletter

24 June 2024

Daily Newsletter

24 June 2024

IHG partners Arkan Palm for first Holiday Inn Express hotel in Egypt 

The new hotel will increase the total number of rooms across all three IHG hotels in the 205 development to 700.

Upasana Mukherjee June 24 2024

Real estate developer Arkan Palm has bolstered its partnership with IHG Hotels & Resorts with the introduction of the first Holiday Inn Express in Egypt, as part of the 205 West Cairo project.  

The 205 project, developed by Arkan Palm for Real Estate Investment, encompasses a mix of residential, commercial, and medical units, reported Zawya.  

This development features apartments on Canal Walk Island, office spaces and upscale retail in 205 Downtown and The Angle, alongside Safa Med Park. 

In May last year, Arkan Palm and IHG Hotels & Resorts announced their plans to construct two hotels within the same development.  

These include the InterContinental West Cairo 205, which is expected to open in January 2028, and the voco West Cairo 205 Suites, with an anticipated opening in June 2026.  

The addition of the Holiday Inn Express will increase the total number of rooms across all three IHG hotels in the 205 development to 700. 

Arkan Palm for Real Estate Investment CEO Amr Badreldine said; “We believe in delivering exceptional experiences, and the introduction of Holiday Inn Express is in line with our vision to provide high-quality accommodation.  

“We are confident that this new addition will set new standards in the industry and cater to the diverse needs of modern travellers, whether they are here for business or leisure.” 

Scheduled to open in 2027, Holiday Inn Express West Cairo will offer 200 rooms.  

It will offer high-speed Wi-Fi, meeting spaces, food and beverage options, retail outlets, and a fitness centre.  

The property will be located near the Pyramids and the Grand Egyptian Museum. 

IHG India, Middle East and Africa managing director Haitham Mattar said: “Expanding our presence in Egypt with our trusted partners at Arkan Palm aligns perfectly with our commitment to Cairo’s vibrant hospitality sector and supports Egypt’s National Tourism Strategy.  

“Holiday Inn Express is the ideal brand to meet the growing demand for high-quality accommodation to meet the needs of modern, smart and savvy travellers visiting the country.” 

Business Travel Market Overview

GlobalData's latest report provides an in-depth analysis of the key trends that will shape the business travel market in the coming years. Despite the pandemic having significantly impacted the business travel industry, the market has been in a recovery phase since 2021, and thanks to a reduction in travel restrictions, it is expected to reach its pre-pandemic level in 2024 and will continue its growth trajectory at a CAGR of >11% from 2023 to 2027.

Business Travel Market Overview

GlobalData's latest report provides an in-depth analysis of the key trends that will shape the business travel market in the coming years. Despite the pandemic having significantly impacted the business travel industry, the market has been in a recovery phase since 2021, and thanks to a reduction in travel restrictions, it is expected to reach its pre-pandemic level in 2024 and will continue its growth trajectory at a CAGR of >11% from 2023 to 2027.

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