A report published by Colliers International reveals that Egypt is going through a period of economic recovery, with tourism and hospitality at the forefront.
Despite recent unrest, global hotel operators have maintained their development plans for Egypt, with a number of high-profile hotel openings expected from 2014 to 2019.
A total of 35 new hotel schemes representing a potential increase of 14,118 rooms are expected to come online in the medium term and the majority of these have been planned for Sharm El Sheikh.
New luxury hotels are currently under development in Cairo, including the 248-key Royal Maxim Palace Hotel Kempinski, the 331-key Nile Ritz Carlton, the 292-key St. Regis and the 350-key Shaza Cairo Nile.
Additionally, upscale and luxury properties in downtown Cairo are seeing increased business from F&B and banqueting. Conferences, events and weddings make up the majority of ancillary service utilisation.