Orascom Development

Orascom Hotels & Development S.A.E. ( OHD) is an Egyptian hotel group and is managed by Samih Sawiris, one of the sons of Onsies Sawiris. It maintains Hotels in Egypt, Jordan and the United Arab Emirates.

2006 Samih Sawiris announced that he intended to invest 500 million dollars in the winter sports resort Andermatt in Switzerland. With the initiation of the Andermatt project and the establishment of Orascom Development Holding AG, the head office of the group was transferred in March 2008 to Altdorf in Switzerland. In May 2008, the new company was floated on the stock market through an IPO. The IPO also included an exchange offer for the existing shareholders of Orascom Hotels and Development, which will henceforth operate as a subsidiary of Orascom Development Holding.