Cairo – Mubasher: Hotel occupancy rate in Egypt rose by 21% to 60.1% in the first quarter of 2018, its highest rate since 2010.
The average daily rate grew by 11.8% to EGP 1,291.72, while revenue per available room surged 35.5% year-on-year to EGP 775.69, according to data by STR Global.
The rise in revenue per available room was mainly driven by both the Sharm El Sheikh (+8.49%) and Cairo / Giza (+14.7%) markets.
Egyptian tourism minister had previously said that the Egyptian Tourist Authority had selected a number of locations across different areas to set up luxurious projects that lure tourists.
The minister also noted that tourism had contributed nearly 15% of the economic growth in Q1-18.
The International Monetary Fund (IMF) recently forecast Egypt's tourism revenues to rise by 25.7% in fiscal year 2017/2018.
Egyptian tourism soared by more than 123% in 2017 on the back of an increase in tourists number by 53.7%, according to a recent report.
