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Colliers International

Cairo hotel revenues to drop: Colliers International

Although Cairo occupancy rates are forecast to be healthy, a pronounced drop in hotel revenues per available room (RevPAR) is expected as a result of the devaluation of the Egyptian currency in November, according to Colliers International’s “The MENA Hotel Forecasts” February report.

Mohamed Samir

Hotels have been suffering from the drop in tourism since 2011.(Photo from the Marriott Hotel website)

Bright future for Egyptian hotel market: Colliers International report

In its full year review in 2016 about Egypt, Colliers International, the commercial real-estate leader, said that the hotels’ supply has increased by 3% because of a number of high-profile properties that streamed the market in 2016, which includes the Steigenberger Hotel El Tahrir, Westin Golf Resort, Westin Katameya Dunes, and Nile Ritz-Carlton. The report …

Hisham Salah