The hotel, set to open in early 2024, will have 283 rooms and will be located in the Pyramids Heights area, part of the ongoing redevelopment of the area surrounding the Grand Egyptian Museum.

An art hotel incorporates art into its design and guest experience, including paintings, sculptures, hanging figures and distinctive architectural features.

The privately owned company AlDau Development signed the contract with Hyatt Hotels to develop the hotel, which covers an area of 27,000 square metres and has attracted investments worth one billion Egyptian pounds. 

The signing ceremony was attended by Giza Governor Ahmed Rashed and Minister of Tourism and Antiquities Ahmed Issa, who spoke about the National Tourism Development Strategy.

The strategy aims to grow Egypt’s tourism revenues by 25 to 30 percent annually.

Issa, in a previous statement, said that Egypt aims to host 25-30 million tourists by 2028, and has been working on expanding the capacity of its hotels to 14-15 million tourists per year. 

He emphasized the need to double the number of hotel rooms, provide affordable air travel and diversify tourist products to attract the target number of tourists.

Egypt has recently eased tourist visa requirements for several countries including China, Iran, India, Turkey, Morocco and Algeria in an attempt to boost tourism.

The sector is a key source of hard currency for the country.

The COVID-19 pandemic had a severe impact on the country's tourism sector, with the number of visitors dropping from 13.1 million in 2019 to 3.7 million in 2020. 

However, the sector has been recovering over the last two years, with the number of tourists increasing to eight million in 2021 and 11.7 million in 2022.

Egypt expects the tally in 2023 to reach 15 million.