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Egypt's Travco eyes world expansion

25 August 2009

Family-owned Egyptian tourism firm, Travco plans to buy more hotels in the world's biggest capital cities in order to establish an internationally known brand, Reuters has reported. "We have always had the ambition of moving into the city hotels segment, meaning hotels in capitals or important cities like St Petersburg, Frankfurt, Paris, London, New York," Travco Chairman and CEO Hamed El Chiaty said. Egypt's largest tourism firm, last week it bought Germany's Steigenberger Hotels for an undisclosed sum

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