Hotel occupancy rate to hit 40-60 percent

Investors in Egypt’s tourism sector have predicted a 40-60 percent increase in hotel occupancy rates in the Red Sea and South Sinai provinces as New Year and Christmas celebrations near.The rate of increase is based on the reservations to the country from tourist agencies around the world.

Speaking on Tuesday, Atef Abdel Latif, a member of the Marsa Alam and South Sinai Investors Associations said the occupancy rate at the New Year celebrations in Luxor and Aswan will not surpass 50 percent this year.

Current occupancy rate at hotels currently range between 35 and 40 percent, he added.