ArabFinance: Marsa Marsa Alam for Tourism Development (MMAT) announced in a statement sent to EGX, it has received an offer from Carino Travel Company to rent the Badawia Resort - Marsa, which is owned by Marsa Marsa Alam. 

According to the financial rental proposal, the rent is amounting to 400,000 Euro yearly over 7 years starting January 2019 to December 2025. Carino Travel will deposit 40,000 Euro will be paid in cash upon signing the contract, to be finalized by the end of the contract, as well as 250,000 Euro will be spent in the hotel renovations, fixing and upgrades that will be agreed with its good-self during the pre-opening period with the possibility of increasing this amount if it is needed.

The rent includes all the hotel facilities and services station and staff facilities. 

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