A number of 25 Egyptian investors presented offers to the Ministry of Tourism include pumping more than one billion and 250 million Egyptian Pounds for establishing new type of hotels in Egypt called “Boutique Hotel” at the aim of utilizing a small place or monumental site in the hotel service, in accordance to the international standards set for this type of hotels and adopted by the Ministry of Tourism.
The rooms are ranging between 25 and 30 of high quality specifications surpass 5 star hotels.
On his part Fathy Nour Advisor to the Minister of Tourism and Chairman of the Egyptian Hotels Chamber estimated the constructive cost for one room in the hotel at $200000. He considered this project as the first of its kind in Egypt, despite of its wide spread in Europe that market it in high rates over those of 5 star hotels.
Nour added that the Ministry received the applications since last October, but not a single investor began implementation until today due to the massive investment costs of the project, terms of specifications and international standards of quality to be applied.