LVMH in luxury hotel deal with Egypt's Orascom
> The luxury goods company is to enter the five-star hotel management business through a partnership with Egypt's Orascom Development Holdings to build two resorts in the Middle East
wiki-Orascom is an Egyptian business group. It holds a portfolio of business activities ranging from contracting to railways and navigation services to manufacturing. It also maintains significant holdings in telecommunications, information technology, and networking.
Orascom was founded in 1950 by Onsi Sawiris. It has invested capital of over $3 billion and an annual revenue over $1 billion. It has recently been involved in the addition of glass windows to the Ryugyong Hotel in Pyongyang, North Korea
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