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Sharm El-Sheikh, Hurghada to witness 35%, 24% RevPAR growth, respectively in 2019: Colliers Cairo, Alexandria to achieve occupancy rates of 80%, 83%, respectively this year
Cairo, Sharm El-Sheikh, Hurgahda, and Alexandria are to witness 10%, 35%, 24%, and 25%, respectively in revenue per available room (RevPAR) year-over-year (YoY), according to Colliers International's latest MENA Hotels Forecast report in September. Meanwhile, it also forecasted that Cairo, Sharm El-Sheikh, Hurghada, and Alexandria will achieve occupancy rates of 80%, 62%,67%, and 83%, respectively this year. Concerning Lebanon, Colliers unveiled that Beirut is expected to witness a growth of 16% in YoY RevPAR in 2019, with an occupancy rate of 63%. Moreover, Colliers expected Abu Dhabi city to witness a slight increase of 2% in YoY REVPAR in 2019, with an occupancy rate of 71%. "Abu Dhabi Beach is expected to witness a slight growth of 1% in YoY RevPAR in 2019, with occupancy rates of 66%," the Colliers forecasts. Also, Colliers revealed that Saudi cities of Riyadh, Jeddah, Makkah, Madinah, and Al Khobar are expected to witness a decrease of 5%, 8%, 2%, 2%, and 6%, respectively in YoY RevPAR in 2019. It also predicted that Riyadh, Jeddah, Makkah, Madinah, and Al Khobar will achieve occupancy rates of 58, 59%, 63%,62%, 54%, respectively this year.
