Egypt's Samih Sawiris has invested what is reported to be a substantial amount of money in Bidroom is a Netherlands hotel booking startup.

The investment from the Egyptian multi-millionaire is expected to help Bidroom expand into new and existing markets.

β€œWe are proud to support the innovative and entrepreneurial founding team in their efforts of building a leading brand in Europe. The next phase of development will be an exciting time for Bidroom. I am happy to participate in a venture that increases the competitiveness in the market, and disrupts the status quo, leading to better prices and service both for customers and hotels.” said Sawiris.

Sawiris is the founder of Orascom Development Group, a conglomerate of companies operating in different sectors including tourism and hospitality, but with a primary business focus on developing, constructing and managing whole tourist destinations.

β€œWe are excited that the Orascom Development Group sees our potential and wants to help us take our service to a much wider audience. We look forward to seeing Bidroom move to its next stage of development. This is a great news not just for Bidroom’s employees but also for our clients – the hotels and frequent travelers,” concluded Michael Ros, CEO at Bidroom.

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