Egypt’s Travco Group Buys Steigenberger Hotels AG

Steigenberger was established in 1930 and operates 82 hotels with 14,890 rooms and 6,700 professionals. The Steigenberger family was the main shareholder of the corporation until Travcor’s acquisition. A statement issued by the company said a strong international partner will help them achieve their goal of international expansion. Chief Executive of Steigenberger said they want to secure Steigenberger’s future. Andre Witschi said “The international hotel and travel services of Travco enable us to offer our guests a new world of travel destinations.”