GERMANY'S FAMILYowned Steigenberger Hotels group has been sold to Travco, the Egyptian travel and tourism empire that includes the Jaz, Iberotel and Sol Y Mar hotel groups.
The Steigenberger family is selling its 99.6 per cent stake in the company, but retaining ownership of the Frankfurter Hof and the Steigenberger Airport hotels in Frankfurt, and the Hotel Belvedere in Davos, Switzerland.