By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    German ambassador to Cairo calls for more privatisation of public companies
    German ambassador to Cairo calls for more privatisation of public companies
    June 7, 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    June 7, 2023
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    June 7, 2023
    7th annual Capital Markets Summit to be launched on 20 June
    7th annual Capital Markets Summit to be launched on 20 June
    June 7, 2023
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    June 7, 2023
  • Politics
    PoliticsShow More
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    June 7, 2023
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    June 7, 2023
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    June 7, 2023
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    June 5, 2023
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    June 5, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Colliers International expects hotel occupancy to rise across Egypt
Share
Notification
Latest News
Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Tourism > Colliers International expects hotel occupancy to rise across Egypt
Tourism

Colliers International expects hotel occupancy to rise across Egypt

Daily News Egypt
Last updated: 2018/03/13 at 7:49 PM
By Daily News Egypt 5 Min Read
Share
SHARE

Christopher Lind, assistant manager at the hosting department of Colliers International, said that the hotel sector will witness stability over the next five years, adding that inbound tourism accounted for 23% of total tourism spending in terms of hotels, aviation, and restaurants, and will likely witness a slow increase over the upcoming years.

During the session titled “A deeper look into the sector of hotels and tourism” during the second day of the Cityscape Egypt Conference, Lind said that spending from inbound tourism will reach 31% in 2022, and spending through local tourism will decline to 61%.

Lind noted that providing visas online will be active for 43 countries within two years. Additionally, in 2016, the EU provided visas for Chinese citizens upon their arrival, which increased Chinese tourism there by 41%. This shows how much legislative and procedural changes directly affect tourism.

He added that capital investments in the hotels sector, internationally, will witness major growth until 2027.

Regarding the sector of tourism and hotels in Egypt, Lind pointed out that 2010 witnessed the highest rate of inbound tourism, as the number of tourists reached 11.7m international tourists, however, the political events from 2011 to 2016 resulted in an unstable performance, especially with the downing of a Russian plane in October 2015, which left a negative impact on the tourism industry.

He explained that the expectations of tourist advisers show that there is an improvement this year, especially with the gradual comeback of Russian and Italian flights.

Lind pointed out that hotels in Cairo witnessed a growth in supply of 1.4%, or 326 new rooms. However, until 2020, Cairo is likely to have about 26,550 rooms added to it east and west of Cairo.

He stressed that the central Cairo area will not see a growth in tourism, especially with the need for maintenance in many hotels that are over 20 years old and have not been properly maintained over the past few years. He pointed out that a growth of 2.3% is likely to take place in new hotels until 2020 in east and west Cairo.

Regarding the volume of occupancy and daily price during the period from 2011 to 2017 compared to 2010, Lind said that Cairo saw a decline of 50% in 2011 compared to 2010, however, the rates were back to normal in 2017, reaching 67%.

He said that the rate of demand was back to normal in 2017, adding that in 2016, the increase in pricing reached 60% following the flotation. He added that hotels will reach a solution for the pricing issue and will adapt to the flotation throughout this year.

As for Hurghada, Lind explained that the occupancy rate declined by 43% in 2016, and slightly increased last year. However, it will be witnessing an improvement and a return to normal rates this year. The situation is similar in Sharm El-Sheikh. However, it is slightly different in Alexandria where local tourism increased and occupancy rates reached 71% in 2017, which is the highest rate among tourist destinations.

Regarding his expectations, Lind said that a 4% increase is expected in hotel revenues in Cairo as there will be an increase to 69% occupancy instead of 67% last year. A growth of 28% is expected in the revenues of Sharm El-Sheikh hotels, with occupancy increasing to 51%. Hotels in Hurghada will see a 27% increase to reach 61% instead of 51% last year, in addition to a 4% rise in the revenues of hotels in Alexandria, with occupancy reaching 71%.

He pointed out that hotels in central Cairo receive the lowest rating from tourists across the governorate, where the rating nears 68% and is subject to decline if no changes are made to these hotels. He pointed out that the rating of five-star hotels is the highest, recording 83%, while there is a scarcity of three-star hotels, which are either not popular enough with tourists or are managed by families or small companies.

Lind stressed that this will be a good field for investment in the hotel sector, especially with the need for them and the inability of many tourists to stay at expensive five-star hotels, pointing out that the assets of hotels in Cairo increased by up to 49%, depending on the type of hotel.

You Might Also Like

As Egypt decides to establish tourist chambers, federation, what is in it for tourism industry?

Which archaeological sites and museums in Egypt apply cashless ticketing system?

Egypt unveils ancient mummification workshops, tombs in Saqqara

Egypt: Ultimate family holiday destination

Pickalbatros Hotels & Resorts hosts 200 international tourism companies in cooperation with MTS Globe Egypt

TAGGED: Colliers, hotel
Share this Article
Facebook Twitter Email Print
Previous Article SMEDA financed 48,000 projects in Alexandria worth EGP 1.2bn
Next Article South Cairo Electricity Distribution company to transform overhead lines to ground cables this year
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?