Mubasher: Egypt has come in the first place among other countries in the Middle East and North Africa (MENA) region in terms of providing the best performance in hotels mainly in Sharm El Sheikh, Hurghada, Alexandria, and Cairo, according to a recent report by Colliers International.
The three-month forecast, from October to December 2018, showed that hotels in Cairo,Sharm El Sheikh, Hurghada, and Alexandria are expected to show a performance improvement of 9%, 40%, 44%, and 21%, respectively, when compared to the same period in 2017, Colliers added.
The Abu Dhabi beach hotels are projected to witness a strong momentum in occupancy; this trend most likely will continue in the fourth quarter of 2018, driven by the leisure segment.
In Bahrain, Colliers said that “Limited corporate and MICE activity followed by subdued leisure demand continues to impact both occupancy and ADR, having a negative impact on RevPAR.”
