Sharm El Sheikh, Hurghada occupancy rates expected to rise significantly in 1Q2018, Colliers says

Hotel occupancy rates in Sharm El Sheikh and Hurghada are expected to rise to 47% and 55%, respectively, during 1Q2018, Colliers International said in its latest MENA Hotels Forecast report (pdf). The market in Sharm El Sheikh is forecasted to grow “from the low base of Q1 last year, in which the demand was adversely impacted due to security reasons.” The market in the two resort towns is now rebounding “due to better security perception,” the report says.