Cairo, Sharm El-Sheikh, Hurgahda, and Alexandria are to witness 10%, 35%, 24%, and 25%, respectively in revenue per available room (RevPAR) year-over-year (YoY), according to Colliers International’s latest MENA Hotels Forecast report in September.
Meanwhile, it also forecasted that Cairo, Sharm El-Sheikh, Hurghada, and Alexandria will achieve occupancy rates of 80%, 62%,67%, and 83%, respectively this year.
Concerning Lebanon, Colliers unveiled that Beirut is expected to witness a growth of 16% in YoY RevPAR in 2019, with an occupancy rate of 63%.
Moreover, Colliers expected Abu Dhabi city to witness a slight increase of 2% in YoY REVPAR in 2019, with an occupancy rate of 71%.
“Abu Dhabi Beach is expected to witness a slight growth of 1% in YoY RevPAR in 2019, with occupancy rates of 66%,” the Colliers forecasts.
Also, Colliers revealed that Saudi cities of Riyadh, Jeddah, Makkah, Madinah, and Al Khobar are expected to witness a decrease of 5%, 8%, 2%, 2%, and 6%, respectively in YoY RevPAR in 2019.
It also predicted that Riyadh, Jeddah, Makkah, Madinah, and Al Khobar will achieve occupancy rates of 58, 59%, 63%,62%, 54%, respectively this year.