Press Release

Orascom Development Holding signed an agreement with Thomas Cook one of the largest tour operators, introducing Casa Cook hotel and Cook's Club Hotel to El Gouna, Egypt.

Altdorf, December 18, 2018 - Orascom Development Holding (ODH) through its hotel subsidiary Orascom Hotels Management (OHM) signed an agreement with Thomas Cook to develop a new 100 - room luxury beachfront hotel property under the brand of Casa Cook El Gouna. The deal also includes rebranding Arena Inn, El Gouna's 144-room downtown hotel to become a Cook's Club Hotel.
 

Casa Cook El Gouna, set to open in October 2019, will offer a range of family-friendly accommodation including two-bedroom villas with private pools and suites with shared pools.

As for Cook's Club, opening summer 2019, the hotel will cater to a new generation of travelers looking for a stripped-back design hotel with great food and drink at its heart. The 144-room hotel will feature a large, beachside pool, a street-food style canteen restaurant, and a DJ who builds the atmosphere throughout the day.

"We are excited about the partnership with Thomas Cook and El Gouna's being the first home to Thomas Cook's newest Hotel brands in the Middle East", said Khaled Bichara, CEO of Orascom Development. "We are sure that the brand equity of Thomas Cook would fit perfectly and also add to El Gouna and the Group's Hotel portfolio.", Bichara added.

Casa Cook is the luxury hotel brand of Thomas Cook that was introduced in 2016 with the opening of Casa Cook Rhodes. Cook's Club builds on the success of Casa Cook, extending the same design-led ethos to bigger properties at a more accessible price. The first Cook's Club was opened in June 2018 in Crete, Greece.

Enric Noguer, Chief of Thomas Cook Hotels & Resorts, said: "Cook's Club builds on the success of Casa Cook, extending the same design-led ethos to bigger properties at a more accessible price. Opening both hotels in the same destination provides us with an attractive opportunity to attract new customers to this stunning part of Egypt and is testament to how attractive our brands are that we continue to attract partners like Orascom Development."

About Orascom Development Holding (ODH):

Orascom Development Holding (ODH) is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development's diversified portfolio of destinations is spread over seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with primary focus on touristic destinations. The Group currently operates ten destinations; five in Egypt (El Gouna, Taba Heights, Fayoum Makadi, and Harram City), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro and Andermatt in Switzerland. The shares of Orascom Development Holding (ODH) are listed on the SIX Swiss Exchange.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations
Tel: +202 246 18961
Tel: +41 418 74 17 11
Email:ir@orascomdh.com

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch
 

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