Occupancy rates rise in Cairo hotels
Hotels in Cairo reported a huge increase in occupancy rates in November from a year earlier on the back of rising tourist arrivals.
The occupany rate jumped 52.3 per cent to touch 50.5 per cent, while revenue per available room, a key industry measure, rose 58.8 per cent to US$53.75, figures from STR Global show.
Commenting on the figures, Elizabeth Winkle, the managing director of STR Global, said: “Northern Africa saw a double-digit increase in occupancy, with a marginal increase in rate, primarily driven by performance recovery in Egypt.”
Analysts said that the increase in tourists was mainly driven by the increased political stability and decline in security issues, allowing the travel ban previously imposed by many western countries to be lifted.
Germany was among the countries to lift the travel ban in October, ahead of the holiday travel season.
The United Kingdom and the United States have not lifted the travel warning for the country as a whole, but the main tourist hot spots such as Cairo and Luxor are excluded.
The other bright spot in the STR survey included Beirut.
Hotels in Lebanon’s capital reported a 23.6 per cent year on year increase in occupancy to 53.5 per cent in November, while RevPAR was up 18.2 percent to $75.20.
Meanwhile, figures compiled by data provider HotStats show that four- and five-star hotels in Cairo saw a 32.3 per cent growth in revenue per available room to $52 during the first 11 months compared to the previous year. For Sharm El Sheikh, the figure was 12.4 per cent up to $29.38.
Egypt’s tourism revenue in the first half stood $3 billion, down 25 per cent year-on-year, according to the government. Tourism contributed 11.3 per cent of GDP and 14.4 per cent of foreign currency revenues.
Follow The National’s Business section on Twitter
Published: December 24, 2014 04:00 AM