Sharm Sheikh, Hurghada hotel performance to shrink by 54% in Q2: report

Colliers International Hotels MENA published Q2 rolling forecast showing that revenues per available room (RevPAR) in Sharm El Shiekh and Hurghada will decline by 54 percent and 48 percent respectively.

Thus, the resort area continues to feel the repercussions of negative tourist sentiments caused by the unfortunate incidents of the past 4 months since the Russian plane have crashed.

However, the report showed that the (RevPAR) in Cairo would increase by 15 percent, expecting a strong performance as the capital city experiences a period of stability.

Moreover, the hotel performance in Alexandria would grow by 2 percent due to continuous demand from corporate and MICE sources are expected to fuel higher rates over the next 3 months, with a slowdown in June due to Ramadan.