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Survey contributors are leading players across the major cities in Saudi Arabia including Madinah, Riyadh, Jeddah, King Abdullah Economic City, and Mecca.
Cairo, Sharm El-Sheikh hotels to record occupancy rate increases of 46% and 41%, respectively, says Colliers International
Colliers’ MENA Hotels Quarterly Review report, released in 7 May, indicated that 79% of hotel owners have decided to partially or fully close their hotels due to low occupancy rates.
The appointment is effective from 3 May, following Davis’ retirement after more than 20 years of service at the real estate services and investment management company.
This came as governments continue to introduce measures to slow the spread of the virus, with hotel owners also taking precautions as travel comes to a halt.
Of the respondents, Colliers International identified 65% as owning existing hotels.
Due to the ever-growing risk of contracting the virus, Regus said it had witnessed companies splitting teams amongst multiple centres to avoid daily interaction.
Egypt currently has a small number of Branded residence schemes with further developments in the pipeline according to Colliers
Saudi hospitality market is progressing, experiencing demographic shift
UAE markets to achieve stable performance levels in 2020, says MENA Hotel Forecast
UAE markets to achieve stable performance levels, Saudi to benefit from tourist visa changes in 2020
Supply in major Egyptian markets has grown at annual average of 3%, says Colliers
Cairo, Alexandria to achieve occupancy rates of 80%, 83%, respectively this year
It also forecasted that the four cities will achieve occupancy rates of 84% in Alexandria, 79% in Cairo, 68% in Hurghada, and 63% in Sharm El-Sheikh in 2019.
Alexandria experiencing highest y-o-y improvement in 1H2019
It also forecasted that Cairo, Sharm El-Sheikh, Hurghada, and Alexandria will achieve occupancy rates of 79%, 64%,69%, and 84% respectively in 2019.
Egyptian markets, such as Cairo, Hurghada, Sharm El-Sheikh, and Alexandria, continue to experience strong growth in performance levels, according to the Colliers’ MENA hotel full-year forecast 2019 report. “In the first quarter (Q1) of 2019, these markets saw an average Revenue Per Available Room (RevPAR) growth of 34% compared to the same period last year. …
Four cities witnessed RevPAR growth of 39% in first two months of current year
Hurghada, Alexandria to see 9% improvement in ADR in FY 2019 over 2018
Hotel occupancy in Sharm El-Sheikh and Hurghada continues to grow in light of the positive movement witnessed in the tourism sector during the last period. The two Red Sea resort cities are expected to witness 17% and 12% growth in revenues per available rooms (RevPAR) respectively, Colliers International said in its latest MENA Hotels Forecast …
Cairo expected to witness higher RevPAR levels compared to last year
Sharm El-Sheikh, Hurghada hotels’ forecasted growth of 29%, 36% respectively in y-o-y RevPAR
Hotels in Egypt’s Hurghada and Oman’s Muscat were named touristic hotspots by Colliers International, with a forecasted growth of 13% and 8%, respectively, in revenue per available room (RevPAR), according to Colliers’ MENA Hotel Forecast June 2018 report. The witnessed growth in Hurghada hotels’ RevPAR was boosted by the continuation of a positive perception and …
Hotels in Riyadh and Kuwait are expected to grow and transform their status to become touristic hotspots with forecasted growths of 20% and 8% respectively in revenue per available room (RevPAR), according to Colliers International’s The MENA Hotel Forecast March 2018 report. The forecasted growth in Riyadh’s case is a result of strong corporate and …
Company foresees Cairo occupancy to increase to 69%, Hurghada 61%, Sharm El Sheikh 51%, Alexandria 71%
Sharm El-Sheikh and Hurghada hotels continued to grow from their low base in the first quarter (Q1) of 2017. The two cities started to regain their position as touristic hotspots, as Sharm El-Sheikh and Hurghada are expected to witness growth of 48% and 27% respectively in revenues per available rooms (RevPAR), Colliers International said in …
Travel ban lift is expected to lead to increased occupancy rates in Sharm El-Shiekh and Hurghada
Interest rates on developer finance is expected to remain high, resulting in higher unit prices passed on to end-users, says Colliers
Sharjah and Ras Al Khaimah steady, Jeddah and Riyadh occupancies continue to decline
Lands at New Administrative Capital will be cheaper than other areas, says Ahmed