Cairo average hotel room rates to rise in 2017, Sharm and Hurghada to grow more attractive for budget vacationers

Colliers International’s latest report on Egypt sees good things ahead for Egypt’shospitality sector. Resort towns of Sharm El Sheikh and Hurghada are both expected to see an upswing in occupancy in 2017 as Colliers anticipates travel bans by the UK and Russia will be lifted this year. The report sees occupancy levels reaching 41% in Sharm in FY 2017, up 22% year-on-year, while Hurghada’s is set to grow 33% to 45% this year. Cairo occupancy will also rise in 2017 to 64%, an increase of 7%, as a new airport in Sixth of October and new developments come online in the west of the city.