The prices of food supplies to hotels in Cairo and Alexandria increased by 40% compared to last year because of the high occupancy rate. Tawfik Mukhtar, director of the Nile Ritz-Carlton Hotel, said that the pricehikes of food supplies exceeded 40% in Cairo hotels compared to the last year. The prices of imported food commodities increased by 100%, while local products’ prices increased by 40%, and alcohols by more than 300%, he said, adding that the customers bear these increases. He pointed out that there is an increase in food supplies’ prices by at least 30% at the current time, which is expected to continue until September. Fawzy said that the tourism sector cannot afford the 40% increase in food supplies in conjunction with the other demands of the government, which exhausts the sector.

Source: Daily News Egypt June 01, 2017 07:52 UTC