Alexandria hotel market on track to achieve occupancy levels of pre-geopolitical challenges in 2011: Colliers International

Daily News Egypt
3 Min Read

A forecast report conducted by Colliers International for the hotels of the Middle East and North Africa (MENA) for the three-month period from July to September 2017 has expected the Alexandria hotel market to achieve the occupancy level of pre-geopolitical challenges in 2011.

The report noted that a drop in revenue per available room (RevPAR) is seen in the market due to the deflation of the local currency against US dollar.

Meanwhile, Sharm El-Sheikh market continues to feel the repercussions of travel alerts from a number of European feeder markets.

According to the report, demand hasn’t shown any sign of recovery, and hotels depend heavily on the domestic market to fill rooms.

As for Jordanian Aqaba, the report showed that it continues to benefit from the domestic demand and the demand from visitors of Scandinavian countries, as well as capturing tourists from both Egypt and Turkey.

In Beirut, an increase in revenue per available room (RevPAR) is expected to take place and emanate from both average daily rate (ADR) and occupancy rates, according to Colliers International’s report. The report expected the city to witness a busy summer season with high leisure demand from the Lebanese Diaspora living abroad.

Dubai is another busy city this summer, benefiting from schools holidays and the Eid vacation.

Other MENA cities are steady in terms of hotel occupancy, such as Sharjah, where the hotel market in Sharjah is going through a recovery phase with modest growth in occupancy.

“The upcoming Eid holidays and school vacations in the Gulf countries, followed by strong growth in the Chinese market, will keep the RevPAR in line with the rates of last year without declines,” the report said.

Ras Al Khaimah is expected to benefit from the strong local demand over Eid and school holidays—along with international leisure demand from Germany, UK, Russia, and India—will keep the three-month RevPAR growth in line with last year.

Colliers International is a global company in commercial and real estate services with over 15,000 employees operating in 68 countries.

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