Egyptian businessman Hisham Talaat Moustafa has finalized a landmark agreement with Hong Kong based hospitality group Mandarin Oriental Hotel Group to manage two of Egypt’s most storied Nile side hotels, deepening the brand’s presence in one of Africa’s fastest growing tourism markets.
The agreement, signed with Talaat Moustafa Group, will see Mandarin Oriental assume management of the Old Cataract Hotel in Aswan and the Winter Palace in Luxor. Both properties are considered icons of Egypt’s golden age of travel and have long attracted royalty, writers and global elites drawn to the country’s archaeological treasures and Nile scenery.
Under the terms of the deal, Mandarin Oriental will take over operations of the Old Cataract in May 2026. The heritage wing of the property will continue to operate while renovations are carried out on the Nile Wing, with a full reopening scheduled for July 2027 under the name Mandarin Oriental Old Cataract, Aswan. In Luxor, the Winter Palace will close in early 2026 for an extensive restoration before relaunching in July 2027 as Mandarin Oriental Winter Palace, Luxor.
Both hotels occupy prime locations overlooking the Nile and sit close to major archaeological landmarks including the Luxor Temple and the Temple of Khnum, anchoring them firmly within Egypt’s heritage tourism corridor between Luxor and Aswan. The restoration projects are part of a broader strategy to reposition Egypt as a premier high end cultural destination.
The partnership builds on Talaat Moustafa Group’s 2024 acquisition of a 51 percent stake in the seven hotel Legacy portfolio in an $800 million transaction through its hospitality arm Icon. That deal expanded the group’s footprint across Cairo, Giza, Alexandria, Luxor and Aswan, consolidating its influence in Egypt’s tourism and real estate sectors.
Hisham Talaat Moustafa, who serves as chief executive of Talaat Moustafa Group, said the collaboration combines Mandarin Oriental’s global service standards with local investment expertise to transform the historic assets into world class luxury destinations. The move signals confidence in sustained international demand for experiential travel rooted in culture and heritage.
In addition to managing the two hotels, Mandarin Oriental will launch its first ever luxury Nile river cruise, operating between Luxor and Aswan in partnership with K.G. Company for Real Estate and Tourism Investment, part of the Garranah Group. The high end cruise will offer multi night itineraries featuring luxury suites, fine dining restaurants and wellness facilities, creating a seamless travel experience that connects river journeys with restored palace hotels.
Laurent Kleitman, chief executive of Mandarin Oriental Hotel Group, described Egypt as one of the fastest growing global destinations and said the expansion presents a rare opportunity to combine iconic historic hotels with a new river cruise product. He noted that the strategy also aligns with plans to reopen the historic Shepheard Hotel in Cairo in 2027, further strengthening the group’s integrated presence across the country.
Mandarin Oriental currently operates 45 hotels, 15 branded residences and 36 private homes across 28 countries and territories. The group is majority owned by Jardine Matheson, the Hong Kong based conglomerate with deep roots in Asia and diversified interests spanning property, retail, automotive distribution and hospitality. Jardine Matheson is effectively controlled by the Keswick family, which has steered the company’s long term global expansion.
Egypt’s tourism sector has shown strong momentum in recent years. Official figures indicate that the country welcomed around 19 million tourists in 2025, representing a significant increase from the previous year. Authorities are targeting 21 million visitors in 2026 and aim to reach 30 million annually by 2030, supported by improved air connectivity, new hotel developments and sustained investment in heritage restoration.
The agreement between Talaat Moustafa Group and Mandarin Oriental reflects a broader shift toward high value tourism, with a focus on luxury, authenticity and curated experiences. By linking Cairo, Luxor and Aswan through a unified portfolio of heritage hotels and a branded river cruise, the partners are positioning Egypt to capture a greater share of affluent global travelers seeking immersive cultural journeys along the Nile.
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