Marriott International, Reliance Ventures partner to open new hotel in Egypt

EGYPT – Marriott International has partnered with Reliance Ventures, the investment arm of Reliance Egypt, to bring a Moxy hotel to downtown Cairo.

Scheduled to open in 2029, the hotel will be part of a large-scale redevelopment project transforming former Ministry of Interior buildings known as the Lazoughly complex into a mixed-usage hub.

The Lazoughly complex will also feature office spaces, co-working areas, retail outlets, restaurants, and “edutainment” facilities.

“There is a growing demand for more lifestyle hotel accommodation options in downtown Cairo, and Moxy Hotels will be a great addition to the city’s hospitality landscape with its playful and stylish experience,” said Shady Hassan, vice-president of development North Africa, Marriott International, in a statement.

Reliance Ventures chairman Magdi Kassabgui echoed the sentiment, highlighting how the project aligns with their vision of creating a vibrant urban center:

“This vibrant development embodies our vision of an urban community where business, education, and entertainment converge. This landmark will reflect Reliance’s commitment to revitalizing downtown Cairo as a premier tourist destination.”

Marriott International has been expanding the global presence of Marriott Branded Residences and enhancing residence owners’ benefits through ONVIA, the company’s newly integrated owner recognition platform. 

Earlier this month, Marriott launched ONVIA, its fully integrated residence owner recognition platform, designed to enhance owners’ experiences. 

ONVIA builds on the existing residence owner benefits and introduces an array of additional offerings customized for owners.

For around 25 years, Marriott has offered whole-ownership, private branded residences that align with the standard of design and service that Marriott hotels are known for. 

Marriott has grown its open portfolio by nearly 50% since 2019’s end, to 138 open residences and a pipeline of 123 projects, highlighting growth of nearly 90% on its existing footprint.

With 16 residential brand offerings, Marriott’s portfolio of branded residences provides a range of lifestyle and location choices across luxury and premium brands, such as The Ritz-Carlton, St. Regis, JW Marriott, Autograph Collection, EDITION, and W Hotels.

The company’s branded residence portfolio includes co-located projects with a hotel of the same brand, as well as standalone properties, which comprise roughly 25% of open and pipeline projects.

Since opening its first branded residences in 2000, the sector has witnessed constant growth, expanding opportunities for developers, brands, and residents, said Dana Jacobsohn, Marriott International’s chief development officer for U.S. luxury brands and global mixed-use. 

Demand for more branded residences has fueled Marriott’s expansion strategy to expand to new and emerging markets around the world. 

At present, Marriott’s global portfolio of branded residences stands at 27 open and 41 pipeline properties in Europe, the Middle East, and Africa; 17 open and 11 pipeline projects in the Asia Pacific excluding China; 76 open and 35 pipeline developments in the U.S. and Canada; and 16 open and 35 pipeline residences in the Caribbean and Latin America.

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