Hotels in Cairo, the capital city of Egypt, are reporting high demand in Q1 2022, according to a report released on Tuesday by IDSC.
The latest IDSC report reviewed the highlights of Colliers International’s announcement of the Egyptian hotel occupancy forecast for the first quarter of 2022, which isn’t typically considered the holiday season.
The report noted that the occupancy rate of Cairo hotels reached 106% in the first quarter of 2022, 46% for Sharm El-Sheikh, & 84% for Hurghada.
Nearly, 4,200 new hotel rooms are expected to be added to the Egyptian hotel market with Hurghada alone adding over 2,000 rooms by 2024, the report estimated.
The report also alluded to the most prominent factors in the recovery of the Egyptian hotels’ occupancy rates: travel restrictions mitigation, business, and entertainment tourism recovery, and the strong political relations between Egypt, besides some major tourism markets in the Middle East, North Africa &Europe, the report disclosed.
