Hospitality groups Travco and Accor announce major hotel expansions

Major hospitality players are significantly expanding their footprints in Egypt and international markets. Travco Group has announced a $500 million investment plan aimed at hotel projects across Egypt, Europe, and North Africa by 2027. The Egyptian company intends to add approximately 1,200 rooms in Morocco, Tunisia, Turkey, Greece, and Spain, while also redeveloping eight domestic hotels. Chairman Hamed El Chiaty stated the expansion will be funded through a mix of internal resources and bank loans to increase the visibility of brands such as Jaz and Steigenberger.

Simultaneously, Accor is planning to add roughly 25,000 hotel rooms in Egypt over the next three years. During a meeting in the New Capital, Accor Chairman and CEO Sebastien Bazin discussed these plans with Prime Minister Mostafa Madbouly. Accor’s strategy includes refurbishing existing luxury properties and potentially establishing a specialized hospitality academy in the country. The Egyptian government has expressed support for these growth plans, noting that the state is preparing further investment opportunities in areas with high visitor appeal.