By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    June 1, 2023
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    June 1, 2023
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    June 1, 2023
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    June 1, 2023
    Egypt's new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    June 1, 2023
  • Politics
    PoliticsShow More
    India train crash kills at least 207, injures hundreds 
    India train crash kills at least 207, injures hundreds 
    June 3, 2023
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    June 1, 2023
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    June 1, 2023
    Egypt and France discuss joint cooperation in the health sector
    Egypt and France discuss joint cooperation in the health sector 
    June 1, 2023
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 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: Sharm El-Sheikh hotels record 44%, 37% occupancy, ADR improvement respectively in Q1 2018: Colliers
Share
Notification
Latest News
India train crash kills at least 207, injures hundreds 
India train crash kills at least 207, injures hundreds 
Politics Breaking News World
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
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 > Sharm El-Sheikh hotels record 44%, 37% occupancy, ADR improvement respectively in Q1 2018: Colliers
Tourism

Sharm El-Sheikh hotels record 44%, 37% occupancy, ADR improvement respectively in Q1 2018: Colliers

Mohamed Samir
Last updated: 2018/05/14 at 8:44 PM
By Mohamed Samir 2 Min Read
Share
SHARE

In the first quarter of 2018, Sharm El-Sheikh hotels were on the path of recovery, achieving a year-over-year improvement of 44% in occupancy and 37% in average daily rates (ADR), according to Colliers International’s The MENA Quarterly Review Q1 2018 report.

Furthermore, the report indicates that in Q1, hotel room supply grew by 900 keys compared to Q1 2017, with the growth occurring in the Cairo market. The report cites Cairo as the sole driver of growth in Egypt’s hotel supply with the opening of the Sheraton Hotel Cairo and Casino and the Hilton Heliopolis in Q3 2017 and Q1 2018 respectively. The openings contributed to the 5% growth in supply for Cairo seen in Q1 2018 over the previous year.

According to the report, operators such as Hilton Worldwide, Egyptian local operator Travco, and the UAE-based Emaar have already made announcements for new projects in Egypt, as prospects improve in the tourism sector.

The new projects will contribute 7,000 additional rooms that are expected to enter the market by the end of fiscal year (FY) 2020.

The report forecast that Sharm El-Sheikh is expected to witness 23% growth in occupancy levels by FY 2018, backed by the strong Q1 2018 results, which indicate a positive performance in the Egyptian market from its most recent low in 2016.

Moreover, Colliers’ report concludes that the current period of stability has also encouraged Russia and Germany, two key source markets, to reopen direct flights to Cairo and Sharm El-Sheikh. If this trend continues, it is expected to further increase the demand on the country’s prominent tourist destinations.

You Might Also Like

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

Forbes selects Hisham Talaat Moustafa among Top 100 Travel & Tourism Leaders 2023 in the Middle East

Pickalbatros Resort Laguna Vista celebrates its first anniversary in Sharm El-Sheikh

TAGGED: Hotels, Sharm El Sheikh
Share this Article
Facebook Twitter Email Print
By Mohamed Samir
Mohamed Samir Khedr is an economic and political journalist, and analyst specialising in geopolitical conflicts in the Middle East, Africa and the Eastern Mediterranean. Over the past decade, he covered Egypt's and the MENA region's financial, business, and geopolitical updates. He is currently the Executive Editor of the Daily News Egypt. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/
Previous Article Aldawlia Developments completes first phase of Regent’s Park Residence in New Cairo
Next Article Egypt to participate in three major international trade fairs: EDA
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

India train crash kills at least 207, injures hundreds 
India train crash kills at least 207, injures hundreds 
Politics Breaking News World
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
//
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?