Sharm el-Sheikh, Egypt shows evidence of tourism recovery

STR reported a 23% hike in occupancy in November 2018 compared to the figures in the same period in 2017

 Mvenpick Resort Sharm El Sheikh Naama Bay.
Mvenpick Resort Sharm El Sheikh Naama Bay.

Sharm el-Sheikh, Egypt is on track for tourism recovery according to a report by STR.

The report, which analysed the data from November 2018 and the same period in 2017, noted a 23% hike in occupancy in terms of room nights sold to 62.8% in November 2018.

The average daily rate was up by 28.8% compared to 2017 to EGP 1,165.39 (US$65). RevPAR rose by 58.4% to EGP 731.65 ($41).

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At the same time, the report stated that a lack of supply growth has helped in hoteliers’ pricing confidence.

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