"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Floating hotels incur EGP 50,000 of weekly losses due to high fuel prices
In case of implementing programmes and loading companies with the difference in diesel prices, owners of boats could suffer losses of over EGP 50,000
Published in Daily News Egypt on 06 - 07 - 2017

The tourism companies seek to escape losses after the rise in fuel prices in light of the signing of contracts for the rental of boats for the next period, while at the same time owners of companies stressed the inability of the Ministry of Tourism to intervene in this matter and stop the bleeding losses expected until the end of October.
Ramadan Hagagy, member of the Chamber of Tourism Establishments of the Egyptian Tourism Federation, said that the rise of diesel price forced prices up by 15% at least.
He explained that companies have three options: cancelling contracts and partially closing establishments, implementing programmes and bearing losses, or amending contracts with foreign tour operators.
He pointed out that tour operators refuse to amend contracts, as prices have gone up dramatically for them and can not convince their customers to pay more.
He noted that if the programmes are implemented and companies bore the difference in diesel fuel, owners of boats would suffer EGP 50,000 losses per week at 50% occupancy rates.
Haggag said that contracts do not include penal conditions in the event of termination, which is why companies lean towards this solution.
He noted that a trip between Luxor and Aswan requires 15,000 litres of diesel at a cost of EGP 60,000 that has now surged to EGP 85,000.
He stressed that the Ministry of Tourism cannot be used to postpone the implementation of the decision to increase fuel prices on tourism companies, because it is a state decision and not the Ministry of Tourism role.


Clic here to read the story from its source.