{"id":543781,"date":"2022-02-17T03:56:04","date_gmt":"2022-02-17T03:56:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/occupancy-rates-at-egyptian-hotels-to-rise-by-19-29-this-year-colliers\/"},"modified":"2022-02-17T03:56:04","modified_gmt":"2022-02-17T03:56:04","slug":"occupancy-rates-at-egyptian-hotels-to-rise-by-19-29-this-year-colliers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/occupancy-rates-at-egyptian-hotels-to-rise-by-19-29-this-year-colliers\/","title":{"rendered":"Occupancy rates at Egyptian hotels to rise by 19-29% this year -Colliers"},"content":{"rendered":"

<\/a> Colliers International maintained its optimistic forecast for Egypt\u2019s hotel <\/strong>occupancy<\/strong> in its January report on MENA hotels (pdf)<\/a>, with all four of its listed Egyptian destinations \u2014 Cairo, Sharm El Sheikh, Hurghada and Alexandria \u2014 expected to see occupancy rates rise by 19-29% this year compared with 2021.<\/p>\n

More travelers are expected at our Red Sea resorts this year: <\/strong>Colliers expects occupancy rates in Sharm to hit 60%, up 19% y-o-y, while Hurghada\u2019s hotels are expected to reach occupancy rates of 69%, up 29% y-o-y. The real estate services firm increased its estimates for both cities by 2 percentage points on its last estimate in November (pdf)<\/a>.<\/p>\n

The growth partly stems from a favorable base effect: <\/strong>The governmentlifted a 70% cap<\/a> on hotel occupancy rates last October, after raising it from 50% in July. The cap was part of covid-19 measures brought in at the onset of the pandemic.<\/p>\n

Could escalation in the Russia-Ukraine crisis pose a threat to recovery?<\/strong> \u201cTravel uncertainty in Egypt\u2019s key feeder markets is expected to slow the growth of demand,\u201d says the report. Russia and Ukraine are two of our most important tourism markets in terms of volume. More than 700k<\/a>Russian tourists<\/a> visited Egypt last year, boosted by the return of direct flights from Russia<\/a> to Red Sea resorts after a six-year hiatus, as well as the return of charter flights<\/a>.<\/p>\n

GEM to draw tourists to the capital? <\/strong>\u201cNew attractions\u201d in Cairo are expected to push hotel occupancy rates to 69%, marking a 21% y-o-y rise. The opening of the EGP 20 bn Grand Egyptian Museum<\/a> \u2014 the largest museum in the world dedicated to a single civilization \u2014 is slated for the second half of this year.<\/p>\n

Tourism revenues returned to pre-pandemic levels in 2021<\/strong>, surpassing USD 13 bn, according to the Tourism Ministry<\/a>, and eclipsing its USD 6-9 bn<\/a> target. The ministry is anticipating revenues to rise still further this year, on the back of the GEM\u2019s opening, the completion of the EGP 275 bn Sinai Development plan<\/a>, the inauguration of new destinations such as El Galala<\/a> and new hotels in El Alamein.<\/p>\n","protected":false},"excerpt":{"rendered":"

Colliers International maintained its optimistic forecast for Egypt\u2019s hotel occupancy in its January report on MENA hotels (pdf), with all four of its listed Egyptian destinations \u2014 Cairo, Sharm El Sheikh, Hurghada and Alexandria \u2014 expected to see occupancy rates rise by 19-29% this year compared with 2021. More travelers are expected at our Red […]<\/p>\n","protected":false},"author":1,"featured_media":543782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7377],"tags":[72,955,505,7117,954,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-enterpriseam","tag-hospitality","tag-hurghada","tag-red-sea","tag-sharm-el-sheikh","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"4fb6cb45-d969-437a-8d4d-dc6ba7aa84e8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/246.jpg","photo_position":"above","related_issue":[543767],"teaser":"","voice_url":""},"yoast_head":"\nOccupancy rates at Egyptian hotels to rise by 19-29% this year -Colliers - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/occupancy-rates-at-egyptian-hotels-to-rise-by-19-29-this-year-colliers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Occupancy rates at Egyptian hotels to rise by 19-29% this year -Colliers\" \/>\n<meta property=\"og:description\" content=\"Colliers International maintained its optimistic forecast for Egypt\u2019s hotel occupancy in its January report on MENA hotels (pdf), with all four of its listed Egyptian destinations \u2014 Cairo, Sharm El Sheikh, Hurghada and Alexandria \u2014 expected to see occupancy rates rise by 19-29% this year compared with 2021. 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All four Egyptian tourism destinations listed \u2014 Cairo, Sharm El Sheikh, Hurghada and Alexandria \u2014 are expected to witness continued growth in occupancy this year despite some modest revisions in Alexandria and\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/122.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628858,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/colliers-international-reports-jump-in-1q2018-occupancy-rates\/","url_meta":{"origin":543781,"position":1},"title":"Colliers International reports jump in 1Q2018 occupancy rates","author":"enterpriseam admin","date":"15 May 2018","format":false,"excerpt":"Hotel occupancy rates in Egypt\u2019s main touristic cities rose in 1Q2018 as \u201cEgypt\u2019s tourism industry appears to be on the road to recovery,\u201d Colliers International says in its quarterly review on MENA hotels (pdf). 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The market in Sharm El Sheikh is forecasted to grow \u201cfrom the low base of Q1 last year, in\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571026,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/27\/colliers-international-sees-egyptian-hotel-occupancy-recovering-in-2021\/","url_meta":{"origin":543781,"position":3},"title":"Colliers International sees Egyptian hotel occupancy recovering in 2021","author":"enterpriseam admin","date":"27 April 2020","format":false,"excerpt":"Hotel occupancy rates in Egypt could bounce back from the covid-19 slump as early as 4Q2020 or the beginning of 2021, Colliers International said in a report (pdf). The real estate services and investment management company sees Cairo hotels leading the country\u2019s recovery next year with projected occupancy rates of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574804,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/hotel-occupancy-in-egypt-to-rise-next-year-colliers\/","url_meta":{"origin":543781,"position":4},"title":"Hotel occupancy in Egypt to rise next year -Colliers","author":"enterpriseam admin","date":"22 September 2020","format":false,"excerpt":"Hotel occupancy rates in Cairo, Sharm El Sheikh, Hurghada, and Alexandria could rise 43-56% y-o-y in 2021, Colliers International says in its latest MENA hotel forecasts report (pdf). Colliers expects hotel occupancy in the capital to hit 65% next year (up 56% y-o-y), while Sharm El Sheikh occupancy is forecast\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626801,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/11\/colliers-international-forecasts-13-rise-in-hurghadas-hotel-occupancy-rates-in-3q2018\/","url_meta":{"origin":543781,"position":5},"title":"Colliers International forecasts 13% rise in Hurghada\u2019s hotel occupancy rates in 3Q2018","author":"enterpriseam admin","date":"11 July 2018","format":false,"excerpt":"Hotel occupancy rates in Hurghada are expected to rise 13% y-o-y from June-August 2018 to reach 61%, Colliers International said in a report on MENA hotels (pdf). The report highlights Hurghada as one of the season\u2019s hot spots, saying that \u201cthe Red Sea resort continues to benefit from positive security\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543781"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543781\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543782"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543781"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543781"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}