Orascom Development Holding AG: 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. Dienstag, 18. Dezember 2018 - 07:01

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG: 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.

18-Dec-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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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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