“Egypts tourism is soaring at the moment meaning owning an apartment in the touristic areas equals money spinner in regards to rental income” – Go Investment
Arab, Egyptian and foreign bookings have raised the occupancy rates at Sharm el-Sheikh resorts during Eid al-Fitr to 100 percent; demand was so high hotel room prices were raised 25 percent, according to the Egyptian Tourism Authoritys Ahmed Shokry in comments to CNBC Arabia Tuesday.
“Promotional campaigns launched by the Ministry of Tourism starting last May in the Arab countries had a positive impact on the high rates of occupancy,” he said.
Hani Suleiman, Egyptian Hotel Chamber undersecretary in the South Sinai Governorate, also said that occupancy rates had registered 100 percent in about 190 Egyptian hotels during Eid and Egyptians accounted for 25 percent of reservations, CNBC Arabia reported.
Mohammed Goda, director general of the Ministry of Tourisms Suez governorate office, said that occupancy rates in the Ain Sokhna region from Monday through Thursday reached 80 percent, compared to just 55 percent in the same period last year, Al-Masry Al-Youm reported Tuesday.