Q3 2015 performance of Egyptian cities revealed

Colliers International has released its Egypt Quarterly Review & Forecast report, which reveals an update on the cities of Cairo, Sharm El Sheikh, Hurghada and Alexandria.

In Cairo, Colliers revealed the supply increased by almost 1,500 keys between Q3 2014 and Q3 2015, with four properties entering the market - operated by Marriott, Starwood, Kempinski and Louvre Group.

Both occupancy and ARR increased in Q3 2015, with the GCC proving to be a growing source market.

Recently, a Dubai-style Al Habtoor City project was proposed for Cairo.

Sharm El Sheikh is reported delays to its pipeline due to the plane crash in October 2015, although there was strong leisure demand for beach hotels from May until September.

Hurghada is facing a slump, with no additional supply entering the market since 2014. However, recent incidents in the beach city may affect plans.

Supply is not expected to increase drastically in Alexandria within the next few years. High occupancy levels were achieved in summer months and domestic visitors are the main source market for these hotels.

The full report can be viewed on Colliers' website.