Sharm El-Sheikh, Hurghada hotels named touristic hotspots; 18%, 13% forecasted growth respectively: Colliers

Mohamed Samir
2 Min Read
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Sharm El-Sheikh and Hurghada hotels were named touristic hotspots by Colliers International, with a forecasted growth of 18% and 13% respectively in revenues per available rooms (RevPAR). The surge is a result of the continued improved security perception for seven months, return of charter flights, and a surge in international leisure demand, according to Colliers’ MENA Hotel Forecasts August 2018 report.

While in the Egyptian capital case, Cairo maintained a 9% forecasted RevPAR growth in the same period, the report states.

On the other hand, Alexandria and Abu Dhabi Beach are expected to witness limited increase in RevPAR, with 4% and 3% expected respectively. In Alexandria’s case, the sure and steady performance is driven by the consistent growth in leisure demand, while in Abu Dhabi the performance is backed by strong momentum in occupancy, and average daily rates (ADR).

On the other hand, Bahrain’s Manama and the UAE’s Sheikh Zayed Road continue to feel the negative consequences of limited corporate and MICE (meetings, incentives, conventions, and events) demand, as well as the growing demand from more price-sensitive markets in Ras al-Khaimah’s case. Manama and Ras al-Khaimah are expected to respectively witness 9% and 8% decline in RevPAR during the same period.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: LinkedIn:
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