Egypt hotel occupancy to reach between 35-62% in 2021: Colliers

Egypt hotel occupancy to reach between 35-62% in 2021: Colliers

Published 15 Mar,2021 via Daily News Egypt - Egypt's hotel market is expected to see occupancy hike between 35% and 62% in 2021, according to Colliers International's latest Middle East and North Africa (MENA) Hotels Forecast.

Colliers forecast that the tourism hotspots of Hurghada and Sharm El-Sheikh will witness a year-on-year (y-o-y) hike in occupancy rates of 57% and 50%, respectively. This will mean that the two cities will see their occupancy rates reach 38% and 35%, respectively, in 2021.

It also projected that Cairo and Alexandria will achieve occupancy rates of 41% and 62% in 2021, respectively. This represents a y-o-y hike of 50% in Cairo, and 36% in Alexandria.

The report forecast that the UAE's Dubai Creek/Festival City, Sheikh Zayed Road/DIFC, will achieve an occupancy rate of 68% and 67%, respectively, a y-o-y hike of 60% and 57% respectively.

Meanwhile, Dubai Marina/JBR and Palm Jumeirah will both achieve occupancy rates of 73% and 69%, respectively. This means a