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Monday, 7 December 2020

Hotels nationwide to see a rebound in visitors in 2021

Hotels across Egypt are set to see a rebound in visitors in 2021 as the effects of the global pandemic begin to ease and international travel increases, according to figures published in a new Colliers report. The Red Sea resort towns of Hurghada and Sharm El Sheikh will see the biggest resurgence: Room occupancy in Hurghada is forecast to surge 88% y-o-y to hit 48%, while the rate in Sharm will rise 78% to hit a 43% occupancy rate. Alexandria will likely see the most visitors with an occupancy rate of 62% over the 12-month period while Cairo will rise a little over 53% to achieve a 43% occupancy rate.

2020 unsurprisingly isn’t looking great: Colliers sees occupancy rates falling as much as 64% in 2020 following the three-month suspension of flights in the second quarter and a sluggish rebound in the months since. Sharm and Hurghada will see the lowest occupancy rates (at 24% and 26% respectively) while hotels in Cairo will see a 64% drop in visitors to achieve 28% occupancy while Alexandria will see a rate of 45%, down 44% from 2019.

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