The converted and partly refurbished 254-room hotel was previously known as the Royal Plaza Hotel.
Facilities include a restaurant, piano bar, two swimming pools, a rooftop spa, pool and a meeting room.
The hotel is located 300m from the seafront, and also offers a private beach that can be reached by hotel minibus.
CHI chief executive officer and managing director Tony Potter said: "It is our second hotel management agreement in Egypt within the space of one year and the first time we’re bringing the Ramada Plaza brand into Naama Bay in Sharm. Our other hotel under management in the region, the Tiran Island Hotel, has performed well over the past year and this has encouraged us to further explore other opportunities."