Colliers Int’l expects hotel occupancy rates in Egypt to rise 43-63% during 2021

CAIRO – 3 February 2021: Colliers International expected that hotel occupancy rates in Egypt will increase during 2021, ranging from 43 percent to 63 percent.

The report issued by Colliers International on the expected performance of the hotel sector in the Middle East and North Africa, taking into account the potential impact of the "Covid-19" epidemic on the performance of the sector, showed the possibility of an increase in Cairo hotel occupancy rates to 43 percent this year.

It expected occupancy rates in the Red Sea to increase during 2021, to reach 43 percent in Sharm El Sheikh and 46 percent in Hurghada.

According to the report, occupancy rates for Alexandria hotels are expected to reach 63 percent during the current year, with the return for each available room reaching 39 percent.

“There is a state of uncertainty in the market regarding the expected performance of the hotel sector, as expectations indicate that the market recovery phase may start during the fourth quarter of 2020 and continue through 2021,” it added.

The report noted that COVID-19 continues to weigh upon the travel and tourism sector, with government and industry bodies alike looking for a path towards a sustained recovery. While restrictions on movement and international travel have begun to ease, controlled and consistent growth will be the key to achieving previous levels of demand.