Mergers & Acquisitions ·
Hotel101 signs definitive agreements for $102M joint venture in Egypt
HBNBHotel101 Global Holdings Corp.
Hotel101 Global Holdings Corp. signed definitive binding agreements for a country-wide joint venture in Egypt, marking its first entry into the African continent. The expansion begins with Hotel101-Cairo West, an approximately 750-room property on a 15,984 sqm site in Hay Al Ashgar near the Giza Pyramids. The project is valued at approximately 5.465 billion Egyptian pounds (US$102.09 million) and is expected to be completed by 2029. The venture is between Hotel101 Global Pte. Ltd. and affiliates of IGI Holding, including WNTR Property and WNTR Hospitality. Hotel101 Global Holdings Corp. operates an asset-light, prop-tech hospitality platform pioneering a globally standardized condotel business model.