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FINANCIAL NEWS
Cairo hotels’ revenue to grow by 22 percent
20 Jul 2016
(MENAFN) The hotel market in Cairo continues to grow as the city is growing with a rise of 22 percent in demand amid June to August yearly.
Accordingly, a strong corporate environment and meetings, incentives, conferences, and events drove the demand for hotels in the country.
Meanwhile, in Sharm El-Sheikh, the resort area continues to feel the negative consequences of fallen tourism due to recent events that drawn tourists inflow.
In addition, in Hurghada, travel advisories continue to have a negative impact on global demand for hotels, which dropped by 23 percent.
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