The jump in Cairo hotel occupancy rates contrasts with stagnation in the past few years in Sharm El Sheik and Hurghada despite the projected growth for both.
A study of hotels in Egypt has found that occupancy rates in Cairo have increased to 70 percent in the first financial quarter of 2017, making it the highest rate since 2007, according to the report. The finding comes from Colliers International’s report on hotels in Egypt, which is published quarterly. Where Cairo is concerned, there will also be a 10 percent increase in hotel supply given the opening of branded hotels such as St. Regis Cairo and the re-opening of hotels such as Sheraton Cairo Hotel & Casino within the city.
“Compared to last year, there is a clear increase in occupancy rates when it comes to hotels in the Downtown area, with some days yielding excellent numbers reminiscent of occupancy rates before the Egyptian protests,” says Ghada Abdelkhalek, Director of Marketing Communications at Cairo Marriott, adding that “the increase is due in part to many tourists from the Gulf region.”
By comparison, the study found stagnant results when it comes to Sharm El Sheikh and Hurghada - specifically, an 8 percent increase in occupancy rates, as well as a 4.5 percent increase in supply growth in Sharm El Sheikh, due to the opening of the Citystars complex. However, occupancy rates in these Red Sea cities are expected to increase due to the discontinuation of travel bans in the areas, suggesting some promise for the future.
Photo Credit: Marriott Hotel.)