Cairo hotels continue to see green shoots as demand rises 8.7 percent

The hotel market in the Egyptian capital experienced continuation of growth in July with increases in all key performance indicators. The increase in visitor demand boosted occupancy by 8.7 percentage points compared to the same period last year to 29.3 percent, whilst ARR rose 1.0 percent to US$114.85, driving a 43.4 percent growth in RevPAR. The growth in top-line performance fell through to the bottom-line with GOPPAR increasing to US$16.01 from US$2.83 during the same period last year.

“Cairo hoteliers have been facing challenging conditions for the past two years, however the new political situation in Egypt has brought much needed market stability. Although occupancy levels are still marginally lower than 2013 levels, the growth in performance levels witnessed in previous months is a positive sign and indicates the market is on track to achieve performance levels over and above those experienced in 2013” commented Goddard.