Promising news for Egypt's tourism industry today as it continues to emerge from last year's clashes: Cairo has reported improved hotel numbers for August, reaching 62 percent occupancy, events site MeetPie is reporting.
The average room rate in the city rose to $119.35, according to the latest HotStats survey of full service four and five star hotels by TRI Consulting.
The increase marks a 41 percentage point hike on the same period last year; as a result, RevPAR and total revenue per available room TRevPAR more than tripled.
Peter Goddard, MD of TRI Consulting, credited the growth to the "relative stability experienced in Egypt in recent months," noting that August's numbers were the highest for any period since the protests intensified. "The rise in occupancy levels invokes a positive outlook on a market that has recorded persistent low levels of hotel demand in the previous two years. The stability has also imparted confidence in various other sectors of the Egyptian economy, as business activity in the country expanded profoundly in August, reaching an eight-month high."