{"id":560580,"date":"2021-03-04T03:59:11","date_gmt":"2021-03-04T03:59:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/mi-casa-es-su-casa\/"},"modified":"2021-03-04T03:59:11","modified_gmt":"2021-03-04T03:59:11","slug":"mi-casa-es-su-casa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/mi-casa-es-su-casa\/","title":{"rendered":"Mi casa es su casa"},"content":{"rendered":"

<\/a> Some 7k new hotel rooms are expected to be added to Egypt\u2019s hospitality sector <\/strong>by 2023<\/strong> as disruptions inflicted by covid-19 fade, according to a quarterly report by Collier\u2019s International (pdf)<\/a>. New construction projects put on ice during the pandemic are looking to resume activity, which is expected to grow the number of hotel rooms in Alexandria by 12% and those in Cairo by some 4%. A Tourism Ministry source had said last month<\/a> that Egypt wants to add 10k hotel rooms by the end of 2021 alone.<\/p>\n

How hotels are doing now:<\/strong> This comes after hotel occupancy rates in 2020<\/a> fell by up to 66% y-o-y in Cairo, 43% in Alexandria, 56% in Sharm El-Sheikh and 60% in Hurghada due to the collapse of global tourism this past year. Egypt has missed out on<\/a> some USD 14 bn in FX due to the outbreak.<\/p>\n

But we\u2019re banking on a quick recovery expected to bring tourism back to pre-pandemic levels by 2022 <\/strong>thanks to our many open air attractions according to Tourism Minister Khaled El Enany<\/a>. Tourism has already been on the upswing since July with some 270k - 290k visitors on average now entering the country every month for the past three months. The sector made USD 800 mn in revenues from July through September 2020, which is a sizable 162% increase from the previous quarter, but still lags far behind its USD 4.2 bn quarterly revenue reported over the same period in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Some 7k new hotel rooms are expected to be added to Egypt\u2019s hospitality sector by 2023 as disruptions inflicted by covid-19 fade, according to a quarterly report by Collier\u2019s International (pdf). New construction projects put on ice during the pandemic are looking to resume activity, which is expected to grow the number of hotel rooms […]<\/p>\n","protected":false},"author":1,"featured_media":560581,"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":[1822,107,72,238,234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-colliers-international","tag-covid-19","tag-enterpriseam","tag-tourism","tag-travel","wpautop","entry"],"acf":{"mongo_id":"bdce7054-0db9-47c1-833b-05d62ba81392","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/91.jpg","photo_position":"above","related_issue":[560571],"teaser":"","voice_url":""},"yoast_head":"\nMi casa es su casa - 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\/2021\/03\/04\/mi-casa-es-su-casa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mi casa es su casa\" \/>\n<meta property=\"og:description\" content=\"Some 7k new hotel rooms are expected to be added to Egypt\u2019s hospitality sector by 2023 as disruptions inflicted by covid-19 fade, according to a quarterly report by Collier\u2019s International (pdf). 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Hotel occupancy in four of Egypt\u2019s biggest tourist destinations fell almost 60% in 2020 to average just 30% as the covid-19 pandemic brought the country\u2019s tourism sector to a halt. 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