The occupancy rate in Greater Cairo hotels is expected to reach 55 percent according to Colliers International’s latest report. The average revenue per available room, a key industry measure, is likely to rise 8 percent to record $139 on daily base.
Colliers’ report further showed that 1500 additional hotel rooms in Greater Cairo were added during the third quarter of 2015.
During the third quarter, the occupancy rates stood at 17 percent compared to 24 percent in the same period in 2014, while average revenue per available room increased 15 percent, versus 6 percent.
Furthermore, Cairo hotel rooms are expected to hit 16.000 in 2016 and increase by 800 rooms in the following year. During 2015, four hotels have entered into the Egyptian market, namely Starwood Hotels, Kempinski, Louvre Hotels Group and Marriott International, contributing to the increase in the number of available hotel rooms in Cairo.
On the other hand, Germany was among the countries to lift the travel ban in October, ahead of the holiday travel season.
The United Kingdom and the United States have not lifted the travel warning for the country as a whole, but the main tourist hot spots such as Cairo and Luxor are excluded.
