Egypt’s hotel market occupancy to reach 43%-62% in 2021: Colliers
Published 03 Feb,2021 via Daily News Egypt - Egypt’s hotel market is expected to witness a hike of between 43% and 62% in occupancy rates in 2021, according to Colliers International’s latest Middle East and North Africa (MENA) Hotels Forecast.
“The novel coronavirus (COVID-19) pandemic continues to weigh upon the travel and tourism sector, with government and industry bodies alike looking for a path towards a sustained recovery,” Colliers said in the report, “While restrictions on movement and international travel have begun to ease, controlled and consistent growth will be the key to achieving previous levels of demand.”
Considering the potential impact of COVID-19 on hotel performance, Colliers provided 2020 and 2021 hotel occupancy forecasts for 24 submarkets in key MENA hospitality markets.
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