The occupancy rate of hotels at Egypt’s Hurghada reached around 93%, while Sharm El-Sheikh’s hotels saw an occupancy of over 73%, Asharq Business reported on August 28th, citing a government official in the tourism sector.

The recent figures reflect a positive turn in the market compared to the same period a year earlier when hotel occupancy rates ranged between 75% and 80% in Hurghada and between 35% and 40% in Sharm El-Sheikh, the official who asked not to be named added.

For his part, President of Red Sea Tourism Investment Association Kamel Abu Ali noted that most of the tourists visiting Egypt currently are from Germany, Poland, and the Czech Republic.

The average daily rate (ADR) increased by around 30% since the beginning of the year, Abu Ali added.

On July 20th, a report by JLL showed that the occupancy rates in the hotel sector in Cairo surged to 60% during the first five months of 2022 from 32% in the same period a year earlier.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).