Hoteliers face rapidly increasing cost of fuel
Increasing pressures such as the rapidly rising cost of fuel are likely to force hotels in Egypt to raise their rates, the chairman of the Egyptian Tourism Federation has warned.
Elhamy El-Zayat told the World Tourism Forum in Lucerne that fuel was expected to be five times more expensive from November when the country’s government is due to remove fuel subsidies, and this would put pressure on hoteliers. However, it may also have a positive effect – some hotel owners are now looking to invest in solar energy.
“Egypt is not using solar whatsoever,” El-Zayat said. “Egypt suffers from a lack of finance. Owners and investors think the least important thing is the environment. They think only about profits. The end of the fuel subsidy has forced investors and that is a good thing.”
[pictured: Aswan, Egypt; photo © UNWTO]