Cairo hotels see big rise in profits

Accommodation boosted by medical conference
Hotels in Cairo have started the year on a positive note, with an impressive 130% rise in profit per room during January, according to data released by HotStats.
In 2016, Cairo hotels welcomed a 49.4% increase in profit per room – the result of a 36.3% jump in RevPAR (revenue per available room), stimulated by a 17.2% rise in achieved average room rate, to $62.34.
Throughout January 2017, demand for accommodation was bolstered by the ninth BGIICC Medical Conference taking place in Cairo. That event helped fuel an 8.7% rise in occupancy to 70.5%, in addition to a 96.6% year-on-year increase in achieved average room rate, which contributed to the 124.4% year-on-year increase in RevPAR, to $70.80.
Highlighting the recovery in hotel performance is a 252% rise in GOPPAR (gross operating profit per available room) over the last 36 months to $37.36 in the 12 months to January 2017, from just $10.61 during the same period in 2013-14.
TTG MENA

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