Chairman of the Holding Company for Tourism, Hotels and Cinema Administration, Mervat Hatabah said the Hotel Nile Ritz Carlton would be officially opened Saturday evening in presence of a number of ministers, headed by Minister of Investment Ashraf Salman, youm7 reported. Mervat said that the company spent EGP 940 million through a 5 year long comprehensive development process, making the Nile Ritz Carlton hotel the most important hotel in the Middle East. The hotel has 280 rooms, 50 suites and 13-storeys with a revenue of $195 million expected within the next 3 years.