Misr Hotel Company announced earnings results for the first quarter of fiscal year 2016. For the period, the company registered EGP 5 million in net profit compared to an EGP 7 million net loss recorded during the same quarter last year. The company's revenues amounted to EGP 16.3 million for the same quarter, compared to EGP 205,600 during last year's first quarter.

The loss was due to shutting down the Nile Ritz-Carlton hotel and the drop of performance in the Dahab Resort, which had its performance slowdown due to the latest political events that took place in South Sinai.