Cairo to require 10,000 keys by 2025
Over the next five to 10 years, Cairo can be expected to witness an average increase in demand of 7.5% for hospitality projects, resulting in a need to add 10,540 new keys to its hotel inventory by 2025.
The data, released by Colliers in its Greater Cairo Real Estate Market Overview report, is based on projections by Euromonitor.
The trend is being driven in part by domestic and regional corporate travel which accounted for 78% of total guest nights in the first half of 2015. However, it also takes into account the recent lifting of travels bans by traditional source markets, such as Germany.
The report concluded:
- Hotel demand has seen a notable shift towards eastern (New Cairo) and Western (6th of OctoberCity) Cairo in recent years
- Internationally branded supply currently represents 64% of Cairo’s hotel market, of which 86% are 5-star rated