Hotel performance in Egypt continues to show on-going signs of recovery, according the latest Hotstats by TRI Consulting survey of full service hotels in seven MENA cities comparing September 2012 to the same period last year
Occupancy rates in Cairo grew to 55.4%, while RevPAR and TRevPAR stood at US$63.63 and US$125.96 respectively.
“Our HotStats data for September shows a steadily recovering Egyptian market with hotels in Cairo registering their highest profits in a year,” commented Peter Goddard, managing director of TRI Hospitality Consulting in Dubai.
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Demand in Cairo has long been divided proportionately between corporate travellers and leisure seekers, both of whom have restored their confidence in the destination allowing for GOPPAR to grow 19.2% to $63.79.
Sharm el Sheikh also boasted increases in performance indicators as occupancy grew 5.3 percentage points to 74.5% and RevPAR increased 5.1% to US$32.10. Profits in the popular destination remained subdued at US$20.61, mostly due to reduced rates granted to travel agents and inbound tour groups.
“Sharm el Sheikh is well on its way to recovery, in spite of travel agent fees that continue to diminish profit margins. With the city’s high season approaching we anticipate continued growth for the remainder of 2012 and early 2013,” Goddard added.
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