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Sharm El-Sheikh, Hurghada hotels named touristic hotspots; 45%, 31% forecasted growth respectively: Colliers - Daily News Egypt

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Sharm El-Sheikh, Hurghada hotels named touristic hotspots; 45%, 31% forecasted growth respectively: Colliers

Sharm El-Sheikh and Hurghada hotels were named touristic hotspots by Colliers International, with a forecasted growth of 45% and 31% respectively in revenues per available rooms (RevPAR). The surge is a result of an improved security perception and a surge in international leisure demand, according to Colliers’ The MENA Hotel Forecast April 2018 report. On …


Sharm El-Sheikh and Hurghada hotels were named touristic hotspots by Colliers International, with a forecasted growth of 45% and 31% respectively in revenues per available rooms (RevPAR). The surge is a result of an improved security perception and a surge in international leisure demand, according to Colliers’ The MENA Hotel Forecast April 2018 report.

On the other hand, Cairo and Alexandria are expected to witness limited increase in RevPAR, with 6% and 4% expected respectively.

According to the report, both Saudi Arabia’s Mecca and Jeddah maintained their confident and steady performance in the period, with -1% and -1% expected RevPAR growth respectively, backed by the return of the Ramadan season and an increase in government-related business.

On the other hand, Bahrain’s Manama and the UAE’s Ras al-Khaimah continue to feel the negative consequences of limited corporate and MICE (meetings, incentives, conventions, and events) demand, as well as the return of the summer season and Ramadan in Ras al-Khaimah’s case. Manama and Ras al-Khaimah are expected to respectively witness 13% and 9% decline in RevPAR during the same period.

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