Kuwait Hotels’ unit to manage Safir Hotel Marsa Matruh
Kuwait Hotels’ unit to manage Safir Hotel Marsa Matruh
Kuwait Hotels Company said that its subsidiary, Safir International Hotel and Resort Management, has signed a contract to operate and manage Safir Hotel in Egypt's Marsa Matruh governorate.
The financial impact of the 10-year contract is forecast to reflect starting as of the second quarter (Q2) of 2023 until Q1 of 2033, according to a statement to Boursa Kuwait on Thursday.
It is worth noting that in the first half (H1) of 2022, Kuwait Hotels registered net profits of KWD 304,650, down 26.10% when compared to KWD 412,120 in the year-ago period.
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