The Egyptian markets such as Cairo, Hurghada, Sharm El Sheikh and Alexandria continue to experience strong growth in performance levels.
In the first eight months of 2019, these markets saw an average RevPAR growth of 16% compared to the same period last year. Travel sentiment from most source markets is now relatively relaxed resulting in a surge in demand. Forecasts for the Egyptian markets continues to be strong.
The major Egyptian markets are forecasted to see an average RevPAR growth of 24% in 2019 in comparison to last year.
Beirut hotel market continues to see strong growth in performance with double digit growth in RevPAR in the first eight months of 2019. Increase in performance levels can be attributed to the growing number of European tourists. French tourists top the list followed by Germans and British. Lifting of travel warning from Saudi Arabia is also expected to have a positive impact. The market is forecasted to see a RevPAR growth of 16% in full year 2019.
Manama hotel market has seen a positive performance trend in the first eight months, achieving a RevPAR growth of 8%. This performance can be attributed to the increase in the number of visitors by approximately 3%. Continuous investments in tourism infrastructure is expected to increase the country’s visibility on the global map. The market is forecasted to see a RevPAR growth of 6% in full year 2019.
Sharm El Sheikh
Hotels in Sharm El Sheikh have experienced the strongest growth in performance levels. The market is expected to continue benefiting from positive security perception and return of chartered flights from traditional source markets.
SURE & STEADY
Stable corporate, MICE and leisure demand followed by strong destination marketing and political stability, the market is expected to see higher RevPAR levels compared to last year.
WORK IN PROGRESS
Although the market has seen strong growth in occupancy levels, a combination of new supply and rate compression is resulting in a dip in RevPAR.