The agreement will see the global hotel group take over operations of the Old Cataract in Aswan and the Winter Palace in Luxor as Egypt ramps up efforts to position itself as a premier high-end travel destination.
The move comes as North Africa’s largest tourism economy targets record visitor numbers and deeper investment in heritage assets, betting that global demand for culturally driven, experiential travel will continue to rise.
Heritage Hotels in Luxor and Aswan
Under an agreement with Egypt’s Talaat Moustafa Group (TMG), Mandarin Oriental will assume management of the Old Cataract in Aswan in May 2026.
The property will continue operating from its heritage wing while renovations are carried out on the Nile Wing. It is scheduled to reopen fully in July 2027 as Mandarin Oriental Old Cataract, Aswan.
In Luxor, the Winter Palace will close in early 2026 for a comprehensive restoration before relaunching in July 2027 as Mandarin Oriental Winter Palace, Luxor.
Both properties overlook the Nile and sit near major archaeological landmarks, including the Temple of Luxor and the Temple of Khnum, anchoring them within Egypt’s heritage tourism offering.
The projects follow TMG’s 2024 acquisition, through its hospitality arm Icon, of a 51% stake in the seven-hotel Legacy portfolio in an $800 million transaction.
The deal expanded TMG’s footprint across Cairo, Giza, Alexandria, Luxor and Aswan, strengthening its position in one of Africa’s largest tourism markets.
“By combining Mandarin Oriental’s legendary service standards with TMG’s long-term investment vision and local expertise, we are elevating these historic assets into world-class luxury destinations and reinforcing our position as a leading hospitality platform in Egypt,” TMG Chief Executive Hisham Talaat Moustafa said.
Nile Cruise Marks Strategic First
In a first for the brand, Mandarin Oriental will operate a luxury Nile cruise between Luxor and Aswan in partnership with K.G. Company for Real Estate and Tourism Investment, part of the Garranah Group.
Mandarin Oriental Group Chief Executive Laurent Kleitman described Egypt as “one of the fastest growing global destinations and presents a rare opportunity to create a journey that is both culturally rich and uniquely Mandarin Oriental.”
“By uniting our first river cruise, with truly iconic historic hotels in Luxor and Aswan, alongside the upcoming Mandarin Oriental Shepheard, Cairo, we are introducing a seamless, end-to-end experience that unfolds across land and water,” he added.
Backed by Jardine Matheson
Mandarin Oriental operates 45 hotels, 15 branded residences and 36 exceptional homes across 28 countries and territories.
The group is majority owned by Jardine Matheson, the 19th-century trading house turned global conglomerate with major interests in property, retail, automotive and hospitality.
Jardine Matheson is effectively controlled by the British-based Keswick family, which has shaped the group’s long-term strategy across Asia and other growth markets.
The Egypt expansion reflects a broader corporate focus on high-growth destinations and experiential luxury travel.
Egypt’s Tourism Growth Story
Egypt welcomed around 19 million tourists in 2025, up 21% year-on-year, and is targeting 21 million visitors in 2026 and 30 million by 2030, supported by improved air connectivity and new hotel capacity.
The Egypt expansion builds on Mandarin’s plans to reopen the historic Shepheard Hotel in Cairo in 2027 under a separate agreement signed with Saudi Arabia’s Al Sharif Group in 2022.
Once completed, the portfolio will allow travellers to move seamlessly from city arrival in Cairo to restored heritage hotels in Upper Egypt and onward to curated river journeys.
