{"id":683988,"date":"2026-03-03T00:00:00","date_gmt":"2026-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=683988"},"modified":"2026-03-03T09:02:33","modified_gmt":"2026-03-03T09:02:33","slug":"investors-dump-regional-travel-stocks-as-images-of-burning-hotels-hit-the-front-pages","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/investors-dump-regional-travel-stocks-as-images-of-burning-hotels-hit-the-front-pages\/","title":{"rendered":"Investors dump regional travel stocks as images of burning hotels hit the front pages"},"content":{"rendered":"

Egypt\u2019s tourism industry has so far escaped the fallout from the war in the Gulf largely unscathed<\/strong> \u2014 with European visitors still arriving on schedule and hotel cancellations limited to guests who simply can\u2019t get flights out of the GCC. \u201cWe\u2019ve had many no-shows and a few cancellations, especially from the Gulf and Saudi Arabia,\u201d a senior exec in the Egyptian hospitality sector tells EnterpriseAM.<\/p>\n

Importantly, this isn\u2019t because of a lack of appetite, but a lack of flights.<\/strong> While the cancellation of flights from the GCC had caused some disruption, visitors from elsewhere kept coming uninterrupted. \u201cWe had no cancellations from Europe. We have group holidays. They\u2019re still coming in,\u201d we were told.<\/p>\n

Tourism Minister Sherif Fathy said much the same<\/strong>, noting that \u201cregional developments and current geopolitical events in the region have not affected the incoming tourism [flows],\u201d according to a ministry statement<\/a>.<\/p>\n

The outlook:<\/strong> When airspace reopens, visitors from the Gulf should come back, with traffic expected to pick up \u201cas much as the airplanes can [handle],\u201d we were told.<\/p>\n

\n

It\u2019s a very different situation in the Gulf<\/p>\n

The situation for hotels elsewhere in the region is very different<\/strong>, with \u201cEgypt being the least affected,\u201d we were told. The impact of videos of hotels being struck by drones and appearing in flames will take time to fade before tourism picks up again. \u201cIt will take time, but definitely not three years \u2014 I think a maximum of one year.\u201d<\/p>\n

Industry participants <\/strong>say it's too early to talk about whether strategic investors could shy away from the sector.<\/strong> \u201cIt\u2019s a bit too early to decide or to say if investments will be affected,\u201d our source in the hospitality sector tells us, explaining that much rests on how long the conflict will continue. But if the war ends soon, investment interest could tick up shortly after, as \u201cpeople and investors forget quickly.\u201d<\/p>\n

\n

Flights still grounded<\/p>\n

Most of the region\u2019s major air hubs remain shut on day four of the conflict<\/strong>, with thousands of flights canceled and hundreds of thousands of passengers stranded. Air traffic seems to be showing few signs of returning, with flight tracker FlightAware<\/a> clocking in 2.8k cancellations on the day that war started, 3.3k the day after, and 3.1k yesterday.<\/p>\n

A handful of flights are set to leave the UAE today <\/strong>as officials there look to repatriate travelers stranded by the outbreak of war. <\/p>\n

The almost complete shutdown of air traffic in the Gulf had seen Riyadh emerge as an exit point<\/strong> for those stranded. High-net-worth individuals, senior executives, and their families were reportedly driving<\/a> from Dubai to Riyadh and boarding private planes for as much as USD 350k a trip to get out of the region or simply make business trips.<\/p>\n

Less well-heeled travelers have traveled by land and sea as far as Egypt<\/strong> to fly out of the region, with the Arab Bridge Maritime Company \u2014 which operates ferries connecting Egypt and Jordan \u2014 increasing the number of scheduled trips to accommodate the uptick in demand, according to a Transport Ministry statement<\/a>.<\/p>\n

\n

Travel stocks are taking a hit<\/p>\n

Traders have voted with their wallets<\/strong>, with the stocks of the region\u2019s few listed airlines closing deep in the red. Saudi Arabia\u2019s Flynas fell 6.4% on the Tadawul yesterday, while Jazeera Airways fell 5.5% on Boursa Kuwait. Attention will move today to budget airline Air Arabia as the Dubai Financial Market reopens following a two-day pause in trading<\/a> in response to the start of the war.<\/p>\n

Shares of listed hotel groups and travel companies<\/strong> \u2014 almost all of which have a sizable footprint in the Gulf \u2014 seem to have taken a hit<\/strong>, too, as Western markets opened yesterday for their first day of trading since strikes on Iran began. Fairmont brand owner Accor saw its share price fall 8.9% on the Euronext Paris after images emerged of the French hospitality group\u2019s Fairmont The Palm hotel in Dubai in flames.<\/p>\n

You didn\u2019t have to be a direct target of the attacks to feel the pinch<\/strong>, with German travel company Tui \u2014 which has a sizable presence in the region and especially in Egypt \u2014 seeing its shares fall 9.9% yesterday on the Deutsche B\u00f6rse. Shares of InterContinental Hotels Group fell 4.2% on the London Stock Exchange. Hilton Worldwide was down 2.2% and Marriott International was down 3.3%.<\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

Inflows have been hit by a lack of flights, not a lack of appetite<\/p>\n","protected":false},"author":1,"featured_media":683989,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[528,72,955,6984,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-683988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-aviation","tag-enterpriseam","tag-hospitality","tag-middle-east-politics","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"e58e898a-aa1b-4032-8245-df09c1683b50","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/3\/142.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s travel industry has so far been spared mass cancellations","related_issue":[683978],"teaser":"Inflows have been hit by a lack of flights, not a lack of appetite"},"yoast_head":"\nInvestors dump regional travel stocks as images of burning hotels hit the front pages - 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The resumption of flights comes after the carrier suspended air travel to and from Egypt 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\/2022\/9\/406.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598760,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/03\/egypts-tourism-ministry-launches-promotional-campaign-in-the-gulf\/","url_meta":{"origin":683988,"position":3},"title":"Egypt\u2019s Tourism Ministry launches promotional campaign in the Gulf","author":"enterpriseam admin","date":"3 June 2019","format":false,"excerpt":"The Tourism Ministry has launched a summer promotional campaign in Saudi Arabia, Kuwait and the UAE, according to a press release picked up Masrawy. The ministry\u2019s campaign uses billboards, primetime TV ads, and online content to target GCC-based tourists.","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":566193,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/","url_meta":{"origin":683988,"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":561751,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/egypt-among-3-mena-countries-to-see-pre-covid-growth-rates-in-2021-fitch\/","url_meta":{"origin":683988,"position":5},"title":"Egypt among 3 MENA countries to see pre-covid growth rates in 2021: Fitch","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Egypt is one of three MENA economies that will see GDP growth return to pre-covid levels in 2021, buoyed by expectations of a strong rebound in the oil and gas and tourism industries this year, Fitch Solutions analysts said at a webinaryesterday. \u201cThe Central Bank of Egypt\u2019s (CBE) monetary easing\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/683988","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=683988"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/683988\/revisions"}],"predecessor-version":[{"id":684029,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/683988\/revisions\/684029"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/683978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/683989"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=683988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=683988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=683988"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=683988"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=683988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}