Swiss/Egyptian firm Orascom has concluded an agreement with Four Seasons which will see the operator running hotels at two of Orascom’s developments.
In Oman, the Four Seasons Resort Oman at Jebel Sifah will offer 200 rooms and 75 residential units, and is expected to be operational during 2013. At El Gouna in Egypt, Orascom’s flagship town, Four Seasons will open its second Egyptian property. Four Seasons Resort El Gouna will offer 150 rooms and 65 residential units, with a target opening of 2014. The presence of the Four Seasons brand reinforces El Gouna’s positioning as the premiere Red Sea destination, and is expected to generate additional real estate development opportunities within the town, which includes a golf course designed by Gene Bates and Fred Couples.
“Four Seasons is delighted to be working with Orascom, who has established a track-record as a highly experienced and professional developer. Our mutual commitment to develop resorts in both of these destinations will establish a long-term competitive advantage for both organizations in these markets. We look forward to the opening of both our Oman and El Gouna resorts in the near future, and to continuing to explore new opportunities with Orascom,” said Four Seasons EVP Scott Woroch.