The World - News from Feb. 22, 1989
Israeli owners of a luxury hotel at the center of a border dispute between Egypt and Israel agreed to a $37-million settlement, an Egyptian official said. Fuad Sultan, Egypt’s tourism minister, said the two countries agreed on how much revenue the owners of the 322-room Sonesta hotel in the Gaza Strip would receive, the Middle East News Agency reported. Sultan, who headed the Egyptian side since the talks on the issue started in Cairo on Feb. 6, said agreement has also been reached on future management of the hotel. However, Israel and Egypt are still negotiating on compensation for a tourist village on the Taba resort, at the head of the Gulf of Aqaba.
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