Egypt’s hotels report highest first-quarter occupancy rates since 2010

Egypt’s hotels report highest first-quarter occupancy rates since 2010: Hotels in Egypt reported the highest first-quarter occupancy rates since 2010 in 1Q2018, rising 21.2% y-o-y to reach 60.1%, according to data from STR Global. The average daily rate rose 11.8% y-o-y to EGP 1,291.72, while revenue per available room (RevPAR) rose 35.5% to EGP 775.69. The increase in RevPAR “was supported by both the Sharm El Sheikh (+8.49%) and Cairo / Giza (+14.7%) markets, and STR analysts expect this boost to continue as Russia recently resumed flights to Egypt after a two-year suspension.”