2020

11.05.2020 – Orascom Development Holding AG

ODH's Hotels in Egypt re-open for business. Orascom Development Holding (ODH) announces the re-opening of El Gouna Hotels as of May 15 in time for the festive season of Eid Al-Fitr.

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
ODH's Hotels in Egypt re-open for business. Orascom Development Holding
(ODH) announces the re-opening of El Gouna Hotels as of May 15 in time for
the festive season of Eid Al-Fitr.

11-May-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Press Release

ODH's Hotels in Egypt re-open for business.

Orascom Development Holding (ODH) announces the re-opening of El Gouna
Hotels as of May 15 in time for the festive season of Eid Al-Fitr.

Altdorf, May 11, 2020 - The Egyptian government has officially allowed the
reopening of hotels and resorts on 15 May 2020 for domestic tourism, after
being closed since March 19, 2020, as the Covid-19 pandemic spread across
the world. Accordingly, ODH will gradually re-open its hotels in El Gouna
starting May 15 with plans set to have all hotels there open for business by
May 21, 2020 and will also re-open Taba Heights Hotels on May 21, 2020.


According to the government regulations, hotels will be permitted to operate
at a maximum capacity of 25% until 1 June 2020 then at 50% by June 2020. The
number of residents will be in accordance with guidelines of the World
Health Organization (WHO) and medical measures, ensuring quality of personal
protective tools and sterilization materials.


"We have used the time of the temporary suspension of the hotel operation to
monitor WHO guidelines, government mandates and public health advancements
to tailor and implement sanitation and staff training programs that ensure
our hotels continue to provide a safe haven for our guests and staff",
Abdelhamid Abouyoussef, ODH's Executive Committee member commented.


"Since International travel from/to Egypt is still closed, we expect
domestic travel to pick up, with local occupancies increasing more than
usual in El Gouna. Moreover, in appreciation of the situation and the travel
uncertainties, the Group has released flexible booking terms and conditions.
This initiative helped maintain decent short-term demand levels".

About Orascom Development Holding (ODH):

Orascom Development Holding (ODH) is a leading developer of fully integrated
destinations that include hotels, private villas and apartments, leisure
facilities such as golf courses, marinas and supporting infrastructure.
Orascom Development's diversified portfolio of destinations is spread over
seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro and
United Kingdom), with primary focus on touristic destinations. The Group
currently operates nine destinations: four in Egypt (El Gouna, Taba Heights,
Fayoum and Makadi Heights), The Cove in the United Arab Emirates, Jebel
Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro and Andermatt in
Switzerland. The shares of Orascom Development Holding (ODH) are listed on
the SIX Swiss Exchange.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations & Strategic Projects Management
Tel: +202 246 18961
Tel: +41 418 74 17 11
Mob: +41 79 156 78 49
Email:ir@orascomdh.com

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

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