{"id":565847,"date":"2021-05-09T13:44:18","date_gmt":"2021-05-09T13:44:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/"},"modified":"2021-05-09T13:44:18","modified_gmt":"2021-05-09T13:44:18","slug":"hotel-occupancy-outlook-in-cairo-sharm-on-the-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/","title":{"rendered":"Hotel occupancy outlook in Cairo + Sharm on the up"},"content":{"rendered":"

<\/a> Colliers International has revised upwards its 2021 outlook for hotel occupancy in Cairo <\/strong>and Sharm El Sheikh<\/strong> in its latest monthly MENA hotel forecast (pdf)<\/a>. The real estate services company now sees occupancy in Cairo hitting 45% this year, up 66% from 2020, and hotels in Sharm seeing a 37% occupancy rate, up 58% from last year. This is up from its April forecast, which predicted a 40% occupancy rate in Cairo and 35% in Sharm.<\/p>\n

Outlook for Hurghada, Alex unchanged:<\/strong> Colliers expects occupancy rates in Alexandria to hit 61% this year, up 35% in 2020, and rates in Hurghada to rise to 38%. These forecasts are unchanged from its April report.<\/p>\n

The return of Russian tourists could give these figures a boost:<\/strong> Direct flights between Russia and Egypt are set to resume next month<\/a> after a six-year hiatus, with 1 mn Russian tourist arrivals<\/a>expected this year. This should prove a huge boon for hotels in places like Hurghada, which are popular with Russian tourists.<\/p>\n

CAVEAT-<\/strong> Even with a huge influx of tourists, hotels still aren\u2019t able to have occupancy rates over 50% due to government restrictions designed to curb the spread of covid.<\/p>\n

2021 so far:<\/strong> Hotel occupancy nationwideaveraged 40-45%<\/a> during the first quarter of 2021, and rates have been gradually increasing.<\/p>\n

A slow but steady recovery:<\/strong> Last year, occupancy rates in the four destinations dropped almost 60%<\/a> as the covid-19 pandemic brought tourism to a halt. S&P Global Ratings said this month that tourism will rebound to pre-pandemic levels<\/a> in 2023, while the government hopes that arrivals will recover to 2019 levels by fall 2022<\/a>. The government currently expects to receive USD 6-7 bn<\/a> in tourism revenues this year, which amounts to around 60% of 2019 revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"

Colliers International has revised upwards its 2021 outlook for hotel occupancy in Cairo and Sharm El Sheikh in its latest monthly MENA hotel forecast (pdf). The real estate services company now sees occupancy in Cairo hitting 45% this year, up 66% from 2020, and hotels in Sharm seeing a 37% occupancy rate, up 58% from […]<\/p>\n","protected":false},"author":1,"featured_media":565848,"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":[10035],"tags":[633,955,505,954,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-tourism","tag-enterprisepm","tag-hospitality","tag-hurghada","tag-sharm-el-sheikh","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"4653fd02-fbd9-4956-8eb3-d6fdbad3dbc7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/334.jpg","photo_position":"above","related_issue":[565839],"teaser":"","voice_url":""},"yoast_head":"\nHotel occupancy outlook in Cairo + Sharm on the up - 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\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hotel occupancy outlook in Cairo + Sharm on the up\" \/>\n<meta property=\"og:description\" content=\"Colliers International has revised upwards its 2021 outlook for hotel occupancy in Cairo and Sharm El Sheikh in its latest monthly MENA hotel forecast (pdf). The real estate services company now sees occupancy in Cairo hitting 45% this year, up 66% from 2020, and hotels in Sharm seeing a 37% occupancy rate, up 58% from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-09T13:44:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/334.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Hotel occupancy outlook in Cairo + Sharm on the up\",\"datePublished\":\"2021-05-09T13:44:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\"},\"wordCount\":278,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/334.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterprisePM\",\"hospitality\",\"Hurghada\",\"Sharm El Sheikh\",\"tourism\"],\"articleSection\":[\"SPEED ROUND: TOURISM\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/hotel-occupancy-outlook-in-cairo-sharm-on-the-up\/\",\"name\":\"Hotel occupancy outlook in Cairo + Sharm on the up - 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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":564003,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/colliers-hikes-hotel-occupancy-forecasts-for-egypt-in-2021\/","url_meta":{"origin":565847,"position":1},"title":"Colliers hikes hotel occupancy forecasts for Egypt in 2021","author":"enterpriseam admin","date":"2 August 2021","format":false,"excerpt":"Colliers International has upped its full-year hotel occupancy forecast for Egypt in its August report on MENA hotels (pdf), with Cairo, Sharm El Sheikh, and Hurghada all expected to see a jump in occupancy rates over the previous year. Let\u2019s start with the resorts: Occupancy rates in Hurghada are expected\u2026","rel":"","context":"In "SPEED ROUND: TOURISM"","block_context":{"text":"SPEED ROUND: TOURISM","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/342.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599110,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/colliers-expects-sharm-to-top-hotel-rooms-revenue-growth-this-year-still-lags-in-occupancy\/","url_meta":{"origin":565847,"position":2},"title":"Colliers expects Sharm to top hotel rooms revenue growth this year, still lags in occupancy","author":"enterpriseam admin","date":"18 June 2019","format":false,"excerpt":"Sharm El Sheikh\u2019s revenue per available room (RevPAR) is expected to grow 33% in 2019 ahead of Hurghada (29%), Alexandria (25%) and Cairo (11%), Colliers International said in its MENA Hotel Forecasts reports (pdf). Sharm is still lagging behind other cities as far as occupancy rates are concerned, with a\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":557193,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/colliers-still-optimistic-on-egypt-hotel-recovery\/","url_meta":{"origin":565847,"position":3},"title":"Colliers still optimistic on Egypt hotel recovery","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"Colliers International maintained its optimistic forecast for Egypt\u2019s hotel occupancy in its September report on MENA hotels (pdf). 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":566193,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/","url_meta":{"origin":565847,"position":4},"title":"Colliers ups outlook for Red Sea destinations","author":"enterpriseam admin","date":"2 June 2021","format":false,"excerpt":"Colliers international is now more hopeful about the Red Sea\u2019s tourism prospects for 2021. The real estate services company has upped its full-year hotel occupancy forecasts (pdf) for Sharm El Sheikh and Hurghada. Occupancy in Sharm is forecast at 42% this year, up 81% from 2020, while hotels in Hurghada\u2026","rel":"","context":"In "SPEED ROUND: TOURISM"","block_context":{"text":"SPEED ROUND: TOURISM","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/407.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573813,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/hurghada-tourism-drops-53-y-o-y-in-1h2020-sharm-51\/","url_meta":{"origin":565847,"position":5},"title":"Hurghada tourism drops 53% y-o-y in 1H2020, Sharm 51%","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"Hotel occupancy rates in Hurghada and Sharm El Sheikh nosedived 53% and 51%, respectively, in 1H2020 amid a pandemic-induced slump in tourism, according to a Colliers Internationalreport(pdf). Cairo and Alexandria were less hard-hit than the Red Sea resort towns, with occupancy rates in the capital declining 47% and 46% 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565847","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=565847"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565847\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565848"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565847"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565847"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}