Palm Hills Developments (PHD) announced the completion of two niche boutique hotels in Hacienda White and Hacienda Bay in the North Coast at a total cost of EGP300mn. The 34-key, 4-suite Mazeej Hotel in Hacienda White, spread over an area of 10,000 sqm, was developed in partnership with G'nK Hospitality, while the 28-suite Le Sidi Boutique Hotel & Restaurant in Hacienda Bay, spanning 20,000 sqm, is a joint venture with The Lemon Tree & Co.
Palm Hills: EGP2.13 as of 30 Sep. 2019, Rating: Buy, TP: EGP4.74/share, MCap: USD403mn, PHDC EY/PHDC.CA
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