Published on : Friday, November 17, 2017
The U.S. hotel group which runs thousands of hotels around the world and manages 17 hotels in Egypt, aims to add 2,500 rooms and take on seven more projects in the North African country by 2022.
Egypt’s tourism industry is one of the country’s main sources of foreign currency and employer of millions of Egyptians. But it has suffered since a 2011 uprising; however, it has picked up in recent months amid government efforts to restore stability and revive the industry.
Ghali said, “The average occupancy rate at hotels in Egypt has increased by 20-25 percent this year.”
Ghali added that the number of visitors to the North African country is expected to continue to increase in 2018. Egypt’s tourism revenue had jumped by more than 210 percent year on year to $5.3 billion in the first nine months of 2017.
“As long as there is economic and political stability, you’ll see the numbers of tourists improving,” Ghali said, adding that 40 percent of hotel reservations are currently made by local visitors. He added, “Why would we sign new contracts and expand here if we weren’t optimistic about Egypt?”
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