{"id":566193,"date":"2021-06-02T13:50:34","date_gmt":"2021-06-02T13:50:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/"},"modified":"2021-06-02T13:50:34","modified_gmt":"2021-06-02T13:50:34","slug":"colliers-ups-outlook-for-red-sea-destinations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/","title":{"rendered":"Colliers ups outlook for Red Sea destinations"},"content":{"rendered":"

<\/a> Colliers international is now more hopeful about the Red Sea\u2019s tourism prospects <\/strong>for 2021. <\/strong>The real estate services company has upped its full-year hotel occupancy forecasts (pdf)<\/a> for Sharm El Sheikh and Hurghada. Occupancy in Sharm is forecast at 42% this year, up 81% from 2020, while hotels in Hurghada are expected to see 46% occupancy, nearly double last year\u2019s rate. Colliers last month<\/a> said it thought Sharm would hit a 37% rate and Hurghada 38%. Hotel occupancy nationwide averaged 40-45%<\/a> during the first quarter of 2021 and rates have been gradually increasing, a Tourism Ministry official said earlier this year.<\/p>\n

Colliers expects occupancy rates in Cairo to increase to 44% this year<\/strong>, up 62% y-o-y, and rates in Alexandria to rise by 31% y-o-y to 59%. Both forecasts were only slightly changed from its May report.<\/p>\n

Tourism revenues are now expected to come in somewhere between USD 6 bn and USD 9 bn in 2021<\/strong>, thanks to rising bookings from Eastern Europe and the Gulf, Tourism Minister Khaled El Anany said last week. The announcement was an upwards revision of Egypt\u2019s tourism revenue targets for 2021, which El Enany had last month put at USD 8 bn<\/a>. Recovering arrivals are setting us on track to welcome a little over 6 mn visitors by the end of the year.<\/p>\n

We\u2019re still waiting to hear on an expected date for the great Russian return: <\/strong>The resumption of direct flights from Russia to red sea destinations<\/a> was originally slated for June, but has seemingly been indefinitely postponed<\/a> as the Russians evaluate the covid-19 situation. A Russian delegation earlier this week<\/a> arrived to inspect airports in Hurghada and Sharm El Sheikh, as part of ongoing investigations into the 2015 Metrojet crash in Sinai<\/a>, which had prompted the initial suspension of flights.<\/p>\n

REMINDER-<\/strong> Even with a huge influx of tourists, hotels must still operate at only 50% occupancy due to government restrictions designed to curb the spread of covid-19.<\/p>\n

How is the rest of the region faring? Colliers\u2019 forecast for vaccine superstar UAE signals our Emirati neighbors have essentially beat covid<\/strong>, with occupancy in four Dubai hotspots expected at an average of 66% in 2021. Abu Dhabi is also set to do relatively well at 54% projected occupancy, with hotel activity seen booming in Ras Al Khaimah. Over in Saudi Arabia, mean forecasts are 45%, with Jeddah expected to check in the most guests. Elsewhere in the GGC, Doha hotels are expected to see occupancy rates of 67%. The outlook is more pessimistic in Beirut and Amman, which are expected to see rates of 33% and 32% respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 are expected to see 46% […]<\/p>\n","protected":false},"author":1,"featured_media":566194,"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":[528,1822,168,633,955,7117,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-tourism","tag-aviation","tag-colliers-international","tag-diplomacy","tag-enterprisepm","tag-hospitality","tag-red-sea","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"e3ac0c7c-9258-4a62-b6e9-893075c674c5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/407.jpg","photo_position":"above","related_issue":[566189],"teaser":"","voice_url":""},"yoast_head":"\nColliers ups outlook for Red Sea destinations - 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\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colliers ups outlook for Red Sea destinations\" \/>\n<meta property=\"og:description\" content=\"Colliers international is now more hopeful about the Red Sea\u2019s tourism prospects for 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":564003,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/colliers-hikes-hotel-occupancy-forecasts-for-egypt-in-2021\/","url_meta":{"origin":566193,"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":559762,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/hotel-occupancy-falls-60-in-2020\/","url_meta":{"origin":566193,"position":2},"title":"Hotel occupancy falls 60% in 2020","author":"enterpriseam admin","date":"3 February 2021","format":false,"excerpt":"Look away: The final 2020 figures for Egypt\u2019s hotel industry are in. 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. Figures in Colliers International\u2019s latest MENA report (pdf)\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\/2\/61.jpg?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":566193,"position":3},"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":574804,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/hotel-occupancy-in-egypt-to-rise-next-year-colliers\/","url_meta":{"origin":566193,"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":571026,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/27\/colliers-international-sees-egyptian-hotel-occupancy-recovering-in-2021\/","url_meta":{"origin":566193,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566193","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=566193"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566193\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566194"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566193"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566193"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}