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Sharm El-Sheikh, Hurghada, Alexandria record highest YoY RevPAR increase in 2020: Colliers - Daily News Egypt

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Sharm El-Sheikh, Hurghada, Alexandria record highest YoY RevPAR increase in 2020: Colliers

UAE markets to achieve stable performance levels, Saudi to benefit from tourist visa changes in 2020


Egypt’s coastal cities Sharm El Sheikh, Hurghada, and Alexandria to top the Middle East and North Africa (MENA) cities in terms of revenues per available rooms (RevPAR) in 2020, according to Colliers International’s MENA Full-Year Forecast 2020 report.

The average year-over-year (YoY) increase in the three cities is forecasted at 13% for Sharm El Sheikh, 11% for Hurghada, and 9% in Alexandria.

The Sunday report indicates that the trio will witness an average occupancy rate of 64% for Sharm El-Sheikh, 70% for Hurghada, and 84% for Alexandria.

Egypt’s Cairo and Lebanon’s Beirut as well are expected to witness 8%, and 5% increase in RevPAR respectively, with an occupancy rate of 81% in Cairo’s case, and 64% in Beirut.

The most notable decreases in RevPAR cited in the report are expected in UAE’s Fujairah with 8% decrease YoY, followed by UAE’s Sharjah with 6% decrease YoY, and Kuwait City with 5% decrease YoY.

The report forecasts that UAE markets are expected to achieve relatively stable performance levels in 2020, with the first three months of Expo 2020 Dubai falling in the fourth quarter. 

Accordingly, Dubai’s Sheikh Zayed Road and DIFC markets are expected to witness a 0% change in RevPAR and an average occupancy of 80%. While Dubai’s Creek and Palm Jumeirah to witness 1%, and 2% decrease in RevPAR respectively. 

In Abu Dhabi’s case, the city is expected to witness a 1% increase in RevPAR, while Abu Dhabi beach will witness a 1% decrease in RevPAR. 

For Saudi, the report indicates that markets will continue to benefit from tourist visa changes and other Outlook initiatives. Although new supply might put downward pressure on rates, recent initiatives are expected to have a positive impact on occupancy levels. Thus, Riyadh is expected to see a 3% increase in RevPAR.

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https://wwww.dailynewssegypt.com/2019/11/17/sharm-el-sheikh-hurghada-alexandria-record-highest-yoy-revpar-increase-in-2020-colliers/
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