Latest in Tag: Hotels Highlight
Latest in Tag: Hotels
South Sinai hotels buy 80% less soft drinks in past seven months: suppliers
There is fierce competition among suppliers for Cairo hotels which have highest occupancy rates
Tourism awaiting recovery after a two-year decline
Tourism revenue declined from $7.3bn in 2014 to $6.1bn in 2015 after the inflow of Russian, European tourists came to a halt
Luxor, Aswan hotels seek increase in occupancy rates as train fares decrease
Watania Sleeping Trains and Catering Services decreased ticket fares for foreign and Arab passengers to reach $10 to $30 per person for foreigners and EGP 100 for Egyptians
Sahl Hasheesh invests in build-out of value-added components
Room rates have pushed through pre-revolution levels but occupancy is still struggling, putting pressure on RevPAR
Value of projects in Dubai total $390.8bn
Ongoing projects valued at $53.6bn while value of planned projects is $337.2bn
EGOTH loses EGP 43m in 3 months after downing of Russian aircraft
Project to renovate Intercontinental Hotel in Downtown Cairo estimated to cost EGP 1bn, says Hassan
Occupancy rates at Taba hotels fall below 5%
19 of 23 Taba hotels have suspended operations
Egyptian-American investors’ alliance buys 3 hotels for $52m in South Sinai and Red Sea: Tourism sources
Egyptian tourism sector may be good opportunity for foreign investors currently, as many hotel owners seek to exit business after five years of losses
Gulf alliance allocates $500m to purchase Red Sea hotels: ETF official
Saudi-Kuwaiti alliance began negations with two resorts in Marsa Alam, of an annual capacity of 700 rooms
Government and Maxim Holdings inaugurate EGP 14bn tourism project
Purported to be largest on Northern Coast, project will lie in Sidi Abd El Rahman district in Matruh on 2,230 acres
Hotels send memo to Tourism Ministry about measures of real estate tax
Substitution Way stipulates calculating the in accordance with ratio of buildings to land they are established on
Cairo hotels to profit despite lack of tourists: Colliers
Sharm El-Sheikh and Hurghada revenues suffers losses
South Sinai hotels occupancy varies in last week of November
Zaazou says ban of flights from UK and Russia costs tourism EGP 2.2b per month and hopes revenues will reach $6bn by end of 2015
Investor considers closing 2 hotels in Marsa Allam, due to losses
Occupancy rates declined significantly in the past four years due to political circumstances, says Deputy Chairman of Tourism Investors Association
Misr Hotel Company (MHOT) turns to profit in Q1 2015/2016
Company recorded EGP 16.3m and EGP 5m net profit
Egyptian pound devaluation has positive impact on tourism: Colliers official
Creation of Suez Canal is a catalyst to build a new tourism hub, and Ain Sokhna particularly in the immediate future, says Head of Hotels (MENA) at Colliers International
Abu Soma expected to inject EGP 2bn-3bn in Egypt, next 5 years: CEO
The company behind its namesake peninsula is planning to open three new hotels in the next three years
Blackstone to acquire Strategic Hotels
Blackstone has agreed to buy real estate investment trust Strategic Hotels & Resorts in a multi-billion-dollar deal. The deal is the latest move by the US private equity firm to expand its massive real estate portfolio. Strategic Hotels & Resorts said on Tuesday that Blackstone’s real estate fund is set to buy the US luxury …
Royal Maxim Palace to cross 50% occupancy rate by 2016: Hotel’s GM
At a rate of EGP 3,000 per night per room, the luxurious hotel targets businessmen and the local leisure market
28% YoY decline expected in Luxor hotel room revenues: Colliers International
Medium-term tourism in Luxor sees a hit after recent militant attack
Gulf tourists double reservations in Cairo hotels for Eid
Occupancies in Cairo hotels vary between 20%-30%, looks to increase to 70% within last few days of Ramadan
Red Sea Governorate targets tourism share increase to 50% by end of 2015: Tourism Ministry official
Tourists visiting Red Sea area last year spent 73.8m nights compared to 26m nights in 2013
Egypt ranks joint-3rd for attacks on hotels in 2015
January’s mass attack in North Sinai which struck military hotel puts Egypt into third place
Tourism investors face obstacles in Egypt
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
Investment opportunities to be presented at Dubai’s AHIC: EGOTH Chairman
EGOTH recorded profits worth EGP 111m between July 2014 and March 2015, says Samir Hassan
Cairo Airport Company achieves EGP 371m net profit in 3 quarters of FY 2014/2015: Chairman
Company aims to increase its profit by end of fiscal year 2014/2015 to EGP 440m, from EGP 281m last year
Former Chamber of Hotels chairman demands placing furnished flats under state supervision
The demand aims to improve tourist services during the upcoming period and increase tax revenues
Orascom Development Holding records $37.01m net profits in 2014
The group had accumulated losses worth $171.3m in 2013
Hotel room revenues to increase in upcoming period: Colliers International
Quarterly and annual forecast sees rise in room revenues compared to last year’s corresponding periods
Cairo, Sharm El-Sheikh most likely to grow in MENA tourist destinations: Colliers International
Report expects visits to Cairo to increase by 58%, Sharm El-Sheikh by 29%