{"id":562564,"date":"2021-05-30T04:00:12","date_gmt":"2021-05-30T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/hotel-occupancy-rates-decline-in-1q2021-and-you-can-thank-the-high-base-effect\/"},"modified":"2021-05-30T04:00:12","modified_gmt":"2021-05-30T04:00:12","slug":"hotel-occupancy-rates-decline-in-1q2021-and-you-can-thank-the-high-base-effect","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/hotel-occupancy-rates-decline-in-1q2021-and-you-can-thank-the-high-base-effect\/","title":{"rendered":"Hotel occupancy rates decline in 1Q2021, and you can thank the high base effect"},"content":{"rendered":"

<\/a> Hotel occupancy rates fell in 1Q2021<\/strong>, wit<\/sup>h four of Egypt\u2019s tourist hotspots seeing declining figures from the same period last year, according to a Colliers International report (pdf)<\/a> on hotels in the MENA region.<\/p>\n

Hotels in Red Sea resorts were the hardest hit:<\/strong> Occupancy rates in Sharm El Sheikh fell 33% y-o-y while Hurghada saw a 26% drop and Cairo 22%. Alexandria fared comparatively well, seeing a decline of only 1% on the back of the city\u2019s growing popularity as a leisure destination, and buoyed by the North Coast resort market, Colliers said. Hotel occupancy nationwide averaged 40-45%<\/a> during the first quarter of 2021, a Tourism Ministry official said last month.<\/p>\n

But keep that in context: <\/strong>The comparable period \u2014 1Q2020 \u2014 included more than two months of relatively normal tourism activity in January, February before the pandemic hit, forcing airspace to close and wiping out most of the month of March.<\/p>\n

Revenues are also taking a hit:<\/strong> Average daily rates (ADRs) for hotels \u2014 a reflection of revenue calculated by splitting average revenue across the number of occupied rooms \u2014 also dropped 76% in Sharm El Sheikh during the quarter, with Cairo also recording a decline of 68%, while Hurghada saw losses of 59%, the report found. Revenues during the quarter were down almost 60% y-o-y compared to 2019\u2019s record highs of USD 13 bn<\/a>, with Egypt losing out on some USD 600 mn in revenues per month during the quarter, Tourism Minister Khaled El Enany said earlier this month<\/a>.<\/p>\n

But a bounceback is in the cards: <\/strong>Hotel occupancy for the full year isexpected to reach 45% in Cairo<\/a>, up 66% from 2020, and 37% in Sharm El Sheikh, up 58% from last year, Colliers forecast earlier this month. Occupancy is still limited by a 50% cap placed on hotels by the government to curb the spread of covid-19.<\/p>\n

Could more UAE tourists help boost occupancy this summer?<\/strong> Emirati budget carrier Flydubai has announced<\/a> it will begin operating three weekly flights to Sharm El Sheikh as of 15 June, making the Red Sea city the airline\u2019s second destination in Egypt following Alexandria.<\/p>\n

Egypt is targeting tourism revenues between USD 6-9 bn this year<\/strong>, El Enany said last week<\/a>. The minister had previously said Egypt expects tourism to recover to its pre-pandemic levels in the second half of 2022<\/a>, though S&P Global Ratings\u2019 forecasts expect<\/a> revenues will continue to lag below pre-pandemic levels until 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hotel occupancy rates fell in 1Q2021, with four of Egypt\u2019s tourist hotspots seeing declining figures from the same period last year, according to a Colliers International report (pdf) on hotels in the MENA region. Hotels in Red Sea resorts were the hardest hit: Occupancy rates in Sharm El Sheikh fell 33% y-o-y while Hurghada saw […]<\/p>\n","protected":false},"author":1,"featured_media":562565,"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":[1822,72,505,954,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-colliers-international","tag-enterpriseam","tag-hurghada","tag-sharm-el-sheikh","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"f90d4f0d-ee8e-486b-9444-5d83e83129c2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/264.jpg","photo_position":"above","related_issue":[562558],"teaser":"","voice_url":""},"yoast_head":"\nHotel occupancy rates decline in 1Q2021, and you can thank the high base effect - 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\/05\/30\/hotel-occupancy-rates-decline-in-1q2021-and-you-can-thank-the-high-base-effect\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hotel occupancy rates decline in 1Q2021, and you can thank the high base effect\" \/>\n<meta property=\"og:description\" content=\"Hotel occupancy rates fell in 1Q2021, with four of Egypt\u2019s tourist hotspots seeing declining figures from the same period last year, according to a Colliers International report (pdf) on hotels in the MENA region. 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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":628858,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/colliers-international-reports-jump-in-1q2018-occupancy-rates\/","url_meta":{"origin":562564,"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). Occupancy soared 44% y-o-y in Sharm El Sheikh, while Hurghada also saw a double-digit y-o-y increase\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":627674,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/07\/colliers-international-forecasts-rise-in-egypts-hotel-occupancy-rates-in-2q2018\/","url_meta":{"origin":562564,"position":2},"title":"Colliers International forecasts rise in Egypt\u2019s hotel occupancy rates in 2Q2018","author":"enterpriseam admin","date":"7 June 2018","format":false,"excerpt":"Hotel occupancy rates in Egypt are expected to rise from April-June 2018, Colliers International said in a report on MENA hotels (pdf). 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The majority of hotels opening in the city are in the five-star category, including Steigenberger El Tahrir, Westin Cairo Golf Resort, and the recently revamped Sheraton in Dokki. Sharm El\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":562564,"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\/562564","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=562564"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562564\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562565"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562564"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562564"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}