These keys will account for a 3% annual growth in the supply. Other markets across Egypt are expected to grow at an average rate of 2% per year, analysts at Colliers revealed.
Occupancy, ADR on the rise
In H1 of 2019, Egypt’s hotel market registered an increase in its occupancy and average daily rates (ADR) in the first half of 2019.
Occupancy and ADR in Cairo’s hotel market improved by 9% and 4% respectively when compared to 2018, while Alexandria recorded a growth of 7% in occupancy and 26% in ADR.
The resort town of Hurghada recorded a rise of 6% and 25% in occupancy and ADR respectively when compared to the same period last year.According to Colliers’ analysts the year’s outlook for the Egyptian market remains positive, “with 2019 expected to set a landmark year for tourism in Egypt”.
The Africa Cup of Nations had a positive impact on demand in the both the Cairo and Alexandria markets, with the latter experiencing the highest year-on-year improvement in H1 of the Egyptian market.