The Ritz-Carlton Hotel announces first Cairo hotel

Owned by Misr Hotels, a subsidiary of The Holding Company for Tourism, Hotels and Cinema, plans are in place to convert the 431-room Nile Hilton, strategically located along the famous river in the heart of bustling downtown Cairo, to a full-fledged Ritz-Carlton hotel after an extensive renovation period.

Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company, L.L.C., said:

"We are honored to have been selected by Misr Hotels to assume management of this iconic hotel. The hotel's prime location in the literal center of the city combined with The Ritz-Carlton's renowned service will produce memorable stays for all our guests when it re-opens after the restoration phase. Our plans for The Nile Ritz-Carlton, Cairo are wide-ranging, and will include conversion of certain facilities to re-establish the hotel to its status as the leading property in the region."

"We also continue to explore other opportunities and destinations in the country," Mr. Cooper added. "With the growth in tourism, the increasing strength of the Egyptian economy, the sustained development of the infrastructure required, and the investment support from within the Egyptian tourism and hospitality sector, we see expansion within Egypt to be an important future strategy."

The hotel will be initially re-branded as The Nile Hotel, Cairo on January 1, 2009 and will continue to welcome guests to enjoy its services and facilities. A complete restoration and renovation of the half-century old property will commence in mid 2009 for approximately 18 to 24 months. The aim is to transform the venerable hotel into a modern benchmark for contemporary luxury hospitality worthy of The Ritz-Carlton brand when it re-opens, while preserving its iconic heritage.

The Ritz-Carlton Hotel Company is present in key gateway cities and exclusive destinations. Its reputation for exceptional customer quality has been recognized throughout the world with coveted awards marking their leadership in the luxury hospitality field. It enjoys a significant presence in the region with five outstanding hotels and resorts in Bahrain, Egypt, United Arab Emirates, and Qatar. Recently announced future properties include Riyadh, Abu Dhabi and Dubai International Financial Centre. The Nile Ritz-Carlton, Cairo will be the first for the company in the capital city, and the second in the country after The Ritz-Carlton, Sharm El Sheikh.

The Ritz-Carlton Hotel Company, L.L.C., a winner of the Malcolm Baldrige National Quality Award in 1992 and 1999, manages 72 luxury hotels in the Americas, Europe, Africa, Asia, the Caribbean, and the Middle East.