Cairo’s hospitality market witnesses a 10.1% year-on-year decline in occupancy in May 2016, Invest-Gate reports.
Hotels’ occupancy rates recorded 64.3% in May 2017 compared to 74.4% in the same month a year earlier, according to the EY MENA Hotel Benchmark Survey Report for May.
However, the average room rate increased to USD 87 in May 2017 from USD 47 in May a year ago, resulting in a rise in revenue per average room (RevPAR) by 61.9% when compared to the prior-year period.
