Colliers International forecasts rise in Egypt’s hotel occupancy rates in 2Q2018

Hotel occupancy rates in Egypt are expected to rise from April-June 2018, Colliers International said in a report on MENA hotels (pdf). Sharm El Sheikh and Hurghada are expected to see the biggest jump in occupancy rates over the three months, reaching 42% and 55% y-o-y, respectively. Cairo’s occupancy rates are expected to rise to 61%, while Alexandria’s are projected to reach 67%. Sharm El Sheikh and Hurghada’s markets are both “growing from a very low base last year” and are expected to grow on the back of improved security perceptions and relaxed travel advisories, the report notes.