Louis to operate 5-star Sharm hotel in 2008

Louis plc announced last October that its subsidiary, Louis Hotels Public Company Ltd., signed a management operation agreement with the Egyptian Tower Group for the 5-star Louis Tiran Sharm hotel presently under construction in the Sharm El Sheikh resort.

Louis will earn royalties on total revenue as well as profits generated by the hotel which is expected to be in operation in April 2008. The hotel will have 342 rooms on three levels and includes deluxe family rooms and suites, most of them facing the sea. The hotel also has five restaurants, indoor bars, pool bars and beach bars, a health centre, a diving centre, swimming pools and all the comforts expected of a five-star beach hotel.

This will be a money earner throughout the year for Louis as Sharm El Sheikh is an all-year resort, attracting primarily European tourists.

Built on a vast property of 80,000 sq.m. with a sandy beach stretching 1,500 metres, Louis Tiran Sharm appears like a glistening mirage. The formation of the beach is unique in the area and allows the guests to safely walk into the watter without the need of a jetty, while to the left side of the beach, in front of the hotel, the coral-rich underwater life has been preserved for guests to explore.

The new hotel is located 12 kms from the international airport of Sharm El Sheikh on the sandy shores of a lagoon at Nabq Bay in the northern part of the resort-town, overlooking Tiran Island (hence the name) and the Gulf of Aqaba.