Egypt witnesses strong growth in performance levels

Egypt witnesses strong growth in performance levels
Image used for illustrative purpose only
Published: 10 July 2019 - 9:45 a.m.
By: Hotelier Middle East Staff

According to Colliers International’s MENA Hotel Forecast for 2019, the Egyptian markets saw a RevPAR growth of 24% in the first five months of 2019 compared to the same period last year.

The report also showed that the Beirut hotel market witnessed strong growth in performance with double-digit growth in RevPAR within the first five months of 2019.

Increase in performance levels can be attributed to the growing number of European tourists, with French tourists topping the list, followed by Germans and the British. The lifting of the travel warning from Saudi Arabia is also expected to have a positive impact, the report said.

The Beirut market is forecasted to see a RevPAR growth of 14% this year.

GCC hospitality markets such as Dubai, Ras Al Khaimah, Sharjah, Fujairah, Jeddah, Madinah, Al Khobar and Kuwait city will see RevPAR drop this year, possibly due to the entry of new supply, analysts revealed.

The RevPAR of Muscat and Aqaba is expected to stay flat in 2019.

Bahrain, however, is expected to experienced healthy performance levels this year, with hotels in the kingdom forecasted to record an average RevPAR growth of six percent.

Overall, analysts forecast that Egypt, Lebanon and Bahrain will experience an uptick in foreign arrivals, with RevPAR moving upwards, while the rest of the Middle East will see RevPAR either move downwards or stay flat in 2019.

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha