Demand in Sharm el-Sheikh, Egypt continues to grow with tourism recovery in November 2018 according to STR.
Analysts pointed out a 23% increase in occupancy compared to November 2017 to 62.8%. Additionally, there was 22.6% increase in demand through the first 11 months of the year as further evidence of tourism recovery in the market.
At the same time, a lack of supply growth has helped in hoteliers’ pricing confidence. Average daily rate increased by 28.8% compared to 2017’s November performance to US $65. The revenue per available room jumped by an impressive 58.4% compared to last year to $40.81.