The latest Benchmark Survey report by EY revealed that the hospitality markets in Beirut and Cairo witnessed a year-on-year growth across all KPIs in Q1 2019.
Political stability and moving economic conditions are main drivers.
Occupancy in Beirut increased by almost 12 percent, from 58 percent in Q1 2018 to 70 percent this year. ADR also grew by 10 percent. This boosted the RevPAR by 32 percent growing to USD 132 in Q1 2019.
Lebanon is set to prepare for a promising summer tourism season with indications of improved tourist volumes after the travel ban lift by Saudi Arabia. The UAE might also lift its travel ban.
Increased focus on tourism through planned infrastructure developments and other initiatives by the government may also maintain the tourism boost.
On the same level, Cairo also witnessed an increase in all KPIs. Hotels’ RevPAR increased for 10 percent, from USD 76 in Q1 2018 to USD 84 in Q1 2019. This was due to the growth in occupancy by 4.5 percent, coupled with a rise in ADR by four percent.
Cairo has been able to attract visitors by positioning itself as a destination for both business and leisure travelers. Events may be behind the increase in performance during Q1 2019. These include the UNWTO Tourism Tech Adventure Forum Middle East and the Egypt Petroleum Show. The sector remains optimistic with cultural tourism picking up particularly in the light of archaeological discoveries in 2018, the Grand Egyptian Museum (GEM) which is set to open in 2020 and the planned expansion of air services to Cairo.Add to Favorites