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Hotel room revenues to increase in upcoming period: Colliers International - Daily News Egypt

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Hotel room revenues to increase in upcoming period: Colliers International

Quarterly and annual forecast sees rise in room revenues compared to last year’s corresponding periods


Revenues for available hotel rooms in Cairo and Sharm El-Sheikh are expected to pick up notably between March and May, (AFP Photo)
Revenues for available hotel rooms in Cairo and Sharm El-Sheikh are expected to pick up notably between March and May,
(AFP Photo)

Revenues for available hotel rooms in Cairo and Sharm El-Sheikh are expected to pick up notably between March and May, a report conducted by Colliers International highlighted.

The report indicated that the gradual return of demands to pre-revolution levels for Cairo hotels is to be expected. It stated that revenue per available room can increase by up to 58% year-on-year (YoY) bases for the March-May 2015 period.

Regarding Sharm El-Sheikh, the report noted that the recent lifting of travel bans will result in a continued growth of Red Sea hotels’ room revenues by some 29% YoY bases for the previously mentioned period.

Room revenues in Hughada, Luxor and Alexandria hotels are also expected to prevail in the next two months, compared to the same period last year, by 15%, 13% and 3%, respectively.

During the next two months, the revenue per room in Cairo is expected to be $64, while in Sharm El-Sheikh it might reach $43. Revenues in Hurghada will be $32 and in Alexandria will be $43. Revenue per room in Luxor is expected to be around $8.

As for the year’s forecast, the report expected that revenues will be on the rise compared to last year as well.

Revenues per room for Cairo hotels are forecasted to go up by 28%.  Hotels in Sharm El-Sheikh are expected to rise by 6%, while the average increase in Alexandria and Hurghada hotel room revenues will range between 2%-3%. Luxor’s annual hotel rooms’ revenues will witness a 36% rise.

Several hotel officials in the Red Sea, South Sinai, Luxor, and Aswan told Daily News Egypt that discounts will be offered for the mid-year holiday.

The Vice Chairman of the Association of Tourism Investors pointed out that discounts will range between 10%-20%.

Last month, around 80 hotels and Egyptian tourism agencies took part in the ITB Berlin exhibition, one of the biggest tourism events globally. Chairman of Chamber of Hotels Mohammed Ayoub said that hotels’ and tourism agencies’ participation in the exhibition is very important in light of the plan for the sector’s recovery by the end of the year.

 

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