Egypt hotel market expects 44-58% occupancy in 2021: Colliers
Published 06 Jul,2021 via Daily News Egypt - Occupancy 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%.
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