In an effort to expand its presence in the Eyptian tourism market, Travco Group announced a partnership with Alfastar.
An acquisition agreement was signed between Travco Group and Alfastar, wherein Travco takes on a 30% stake.
Hamed El Chiaty, founder and chairman of Travco Group International said: “This acquisition is just the start and we are contemplating to increase that with time. With this agreement, we are looking at enhancing tourism arrivals from Poland to Egypt.”
In the medium-term, Travco will continue focusing on the Egyptian market. Egypt’s tourism sector is expected to benefit from increased travel demand and heavy infrastructure investments.