Colliers Issues 1Q21 MENA Hotels Quarterly Review Report

Giving More to Your Wealth
30 May 2021

Colliers have issued their MENA Hotels Quarterly Review Report for 1Q21, forecasting a 7% rise in the total number of hotel rooms in Egypt in 2021. Hurghada accounts for 31% of the new supply. The report revealed that hotel occupancy declined YoY in four of Egypt’s cities, mainly due to a strong base effect, since the first two months of 2020 had normal tourism activity before the COVID pandemic hit.

Hotel occupancy for 2021 is forecast to increase by 66% YoY in Cairo to reach 45% and increase by 58% YoY in Sharm el-Sheikh to sit at 37%. Hotel occupancy cannot exceed 50% as per government regulations put in place to ensure social distancing and combat the spread of COVID. (Source: Colliers 1Q21 MENA Hotels Quarterly Review (English), Daily News Egypt (English))

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