ArabFinance: Building on the enhanced structural reforms adapted by the Egyptian Ministry of Tourism and the strong recovery signals of Egypt’s tourism, Orascom Development Egypt (ODE) is pleased to announce that the German Ministry of Foreign Affairs has removed its travel ban restrictions from Germany to Taba International Airport. This decision will push more flights to Taba Heights, Orascom’s second largest hotel destination and the largest touristic destination in the South Sinai region.
According to an official statement given by the German Ministry of Foreign Affairs (https://www.auswaertiges-amt.de/en), restrictions on all German airlines – imposed in October 2015 – to travel to Taba have been removed. The decision means that all airlines are allowed again to fly directly to Taba International Airport, echoing the now stable security conditions in the region and will hopefully
encourage further countries to follow suit.
Taba Heights is a fully self-sufficient resort town, located in Taba, South of Sinai. The town offers six hotels (five 5 stars and one 4 stars) with 2,365 guest rooms and a wide range of international-standard facilities including an international marina port.
CEO Khaled Bichara said: "Very positive news for us as a group that would now position our second largest hotel destination, Taba Heights, on the right track to growth and profitability. Although Taba Heights has almost the same number of rooms as El Gouna, yet El Gouna hotel’s revenues were ten times those of Taba’s in FY 2018, because of the travel restrictions that were imposed by the European countries and the
ongoing bans by Russia. Now with the lifting of the restrictions, the potential upside for the destination can be achievable, noting that in 2010, Taba Heights used to generate approximately USD 20 million of pure EBITDA.”
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