ECONOMY

Louis to manage Egyptian hotel due to open in June

Louis, the largest tourism company in Greece and Cyprus, will manage the Louis Tiran Sharm hotel, owned by the Tower Group, in Egypt scheduled to open its doors in June. The 346-room property is located on a private 1,500-meter stretch of Sharm El Sheikh’s coast, the company said in a statement yesterday. The area generally attracts European tourists on a year-round basis, it added. The inauguration of Louis’s latest addition to its management portfolio further consolidates the company’s plans to expand its operations to new and emerging markets in addition to its traditional hub of Greece and Cyprus.