Only a short while after the Hilton family sold its Hotel business, now the German Steigenberger family sold its hotel and service business.
The Steigenberger Group runs 50 hotels and resorts all with four and five stars, plus 30+ lover priced Intercity hotels.
For years, the owners could not agree upon the future and direction of the group. Accordingly, top management changed often.
The new owner, according to Handelsblatt, is the Egyptian travel company Travco.
Travco is a big partner of the German TUI in Egypt and the Middle East, acting as TUI’s incoming agency for German tourists in Egypt.