CAIRO Nearly a month after Hyatt Hotels Corp. terminated its management deal for Grand Hyatt Cairo following a dispute with owner Saudi Egyptian Touristic Development Co., the 714-key property is still flying the brand’s flag.
“We are still in arbitration and the hotel will keep the Hyatt brand name until the settlement of the dispute,” an SETDC spokesman tells Ahram Online.
The dispute between Hyatt and SETDC stems from the February revolution in Egypt, when Hyatt permitted vital staff to flee Cairo, which the hotel’s owner viewed as a violation of Hyatt’s obligations under its management agreement. Hyatt soon terminated the flag, but since SETDC believes Hyatt violated its contract, the company does not recognize Hyatt’s right to terminate.
Hyatt began managing Grand Hyatt Cairo in 2003 under a 10-year contract. Hyatt continues to manage Hyatt Regency properties in Sharm El Sheikh and Taba Heights.