Cairo hospitality market to achieve 7% occupancy growth in 2018, versus the previous year, Colliers International said in its latest Cairo hotel market performance report released in December. The report also expected that Cairo will witness 34% increase in Average Daily Rate (ADR) in 2018, thanks to a more stable socio-economic climate in the country. Concerning the market segmentation, Colliers International declared that the corporate segment comprises 67% of Greater Cairo’s hospitality market demand, noting that this percentage is driven by both domestic and regional markets. Colliers revealed that the GCC remains a strong source market for the Cairo hospitality market absorbing 55% of market share, followed by the domestic market with 23%. According to Colliers, the total tourism spending growth from 2018 to 2022 is estimated to increase at a compound annual growth rate of (CAGR) 16.5%.

Source: Daily News Egypt December 17, 2018 06:45 UTC