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Monday, 12 April 2021

Hotel occupancy rates are slowly inching up

Occupancy rates at hotels across Egypt averaged between 40-45% in 1Q2021, but have been growing m-o-m as international travel picks up ever so slowly, Reuters reported, citing an unnamed Tourism Ministry official. Occupancy was at 25% in January, but rose to 30% in February and 45% in March, according to the official. Hotels across the country are still only allowed to operate at 50% capacity. Occupancy rates are now calculated out of that capacity limit, meaning that the real occupancy is around 25% for the three-month period.

Forecasts say things will get better: Occupancy rates are forecast to pick up this year with the roll-out of vaccines, which will help kickstart international travel. Some 2 mn tourists have visited the country in the nine months since flights restarted following the initial wave of covid-19.

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