dailynewsegypt.com
Egypt hotel market expects 44-58% occupancy in 2021: Colliers
Hotels in Sharm El-Sheikh, Hurghada to see y-o-y hike in occupancy rates of 43%, 51%, respectively
Daily News Egypt July 6, 2021 Comments Off

O
ccupancy rates in Egypt’s hotel market are expected to range between 44% and 58% in 2021, according to Colliers International’s latest Middle East and North Africa (MENA) Hotels Forecast in July 2021.

The company projected that Cairo and Alexandria will achieve occupancy rates of 44% and 58% in 2021, respectively. This represents a year-on-year (y-o-y) hike of 63% in Cairo, and 29% in Alexandria.

The report forecast that hotels in Sharm El-Sheikh and Hurghada will see a y-o-y hike in occupancy rates of 43% and 51%, respectively. The occupancy rate in Hurghada would reach 113% in 2021, whilst Sharm El-Sheikh would see 86%.

Colliers report added a forecast for the UAE’s Dubai Creek/Festival City and Sheikh Zayed Road/DIFC. It projected that the two will achieve an occupancy rate of 65% and 64%, respectively, representing a y-o-y hike of 52% and 49%, respectively.

In Saudi Arabia, the cities of Riyadh, Jeddah, Mecca, Madinah, and Khobar are projected to witness 2021 occupancy rates of 54%, 53%, 27%, 35%, and 54%, respectively.

Kuwait City hotel market is expected to achieve an occupancy rate of 29%, , meanwhile 16% increase in y-o-y occupancy variance.
Daily News Egypt
MORE IN BUSINESS
MORE IN DAILY NEWS EGYPT
Recommended
Egypt’s hotel occupancy to range between 43-57% in 2021: Colliers

Featured Video
Video| Egypt’s President Al-Sisi weighs in on freedom of expression, Islamic extremism
Editorial Pick
President Al-Sisi lifts state of emergency in Egypt for first time in years
EU follows GERD negotiations closely, believes agreement needed: Ambassador
Egypt’s Sharm El-Sheikh to host UN climate summit COP27 in 2022
Opinion | Why is Egypt postponing the war against Ethiopia?
Latest News
Creative Industry Summit launches 12th edition
Pakistan Embassy Cairo observes Kashmir Black Day
AU suspends membership of unrest-hit Sudan
OPINION
Opinion | Egypt and the International Monetary Fund
Opinion| Pope Francis’ Courage and the Unforgivable Sins of Clergymen
Opinion | Ethiopia crises
Opinion| Can the United States ban Facebook?
MORE OPINION
Receive our daily newsletter
Subscribe