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FINANCIAL NEWS
Cairo’s hotel occupancy below 20%
12 Mar 2011
(MENAFN) Elizabeth Randall, managing director of STR Global, the hotel industry expert, said that hotel occupancy is currently below twenty percent as the political unrest in the country hit its tourism sector, reported Arabian Business.
Randall said that the number started declining considerably by late January, shortly after protests took over Egypt.
Randall added that the only thing that aided Egypt’s hotel industry was the fact that reporters and news agencies flew to the country in order to cover the political turmoil that was taking place.
Randall pointed out that if Cairo does not stabilize, it is unlikely for tourism to flourish back.
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