Sharm El-Sheikh, Hurgahda, Alexandria and Cairo are to witness a growth of 37%, 27%, 27%, and 11%, respectively year-over-year (y-o-y) in revenues per available rooms (RevPAR), Colliers International said in its latest MENA Hotels Forecast report in August 2019.
It also forecasted that the four cities will achieve occupancy rates of 84% in Alexandria, 79% in Cairo, 68% in Hurghada, and 63% in Sharm El-Sheikh in 2019.
Concerning Lebanon, Colliers unveiled that Beirut is expected to witness a growth of 16% in y-o-y RevPAR in 2019, with occupancy rate of 63%.
For the UAE, Colliers expected Abu Dhabi city to witness a slight RevPAR increase of 2% y-o-y in 2019, with occupancy rate of 72%.
“Abu Dhabi Beach is expected to witness a slight RevPAR growth of 2% y-o-y in 2019, with occupancy rates of 66%,” Colliers forecasts.
In terms of Saudi Arabia, Colliers revealed that Riyadh, Jeddah, Makkah, Madinah, and Al Khobar are expected to witness RevPAR decreases of 5%, 7%, 2%, 4%, and 8%, respectively y-o-y in 2019.
© 2019 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).