Malta-based CHI Hotels & Resorts will open a new 351-bedroom Tiran Hotel as part of the Corinthia Beach Resort Sharm el Sheikh in Egypt next month.

The four-star hotel boasts two restaurants, three bars, a landscaped outdoor pool and children's pool, amphitheatre, business centre, internet café and conference facilities for up to 500 delegates.

CHI will also operate a day spa on the site. Spa facilities include a number of treatment rooms and a spa pool.

CHI's chief executive, Tony Potter said: "At a time when hotel companies are considering their options in view of the current economic scenario, we are forging ahead with our plans to refurbish and improve existing properties, while opening more hotels in key locations across all of our three brands - Corinthia Hotels, Wyndham Hotels & Resorts and Ramada Plaza hotels.

Potter hinted that the Tiran Hotel could be the first of many similar ventures, as the group looks to expand its existing resorts. "We are extremely interested in the Beach Resort concept in other locations around Europe," he added.

CHI Hotels & Resorts is a joint venture between International Hotel Investments, which owns 70 percent of the company, and The Wyndham Hotel Group, which owns the remaining 30 per cent.