Egypt hotels report RevPAR growth

Hotel occupancy across Egypt continues to grow as tourists from major source markets return to the country in light of improved security.

According to the latest Mena Hotels Forecast report by Colliers International, the cities of Cairo, Hurghada, Sharm El Sheikh and Alexandria saw an average revenue per available room (RevPAR) growth of 30 per cent in the first month of 2019 compared to the same period last year.

The RevPAR growth is driven by both average daily rate (ADR) and occupancy due to strong corporate, leisure and MICE activity. Forecasts for the Egyptian markets continues to be strong. The Red Sea resorts are expected to continue benefitting from positive security perceptions and returning of tourists from major source markets.

The major Egyptian markets are forecasted to see an average RevPAR growth of 13 per cent in 2019 in comparison to last year.

Colliers stated that the Saudi markets experienced a drop in RevPAR levels in the first month of 2019 compared to the same period last year.