About 8,500 new hotels keys will be added to Egypt’s hospitality sector for a total investment of about $635 million, reports say.
The figure represents an increase by 50 per cent compared to this year new hotel room construction.
5,550 of the new rooms have been operational till December with a continued growth of tourist occupancy in hotels and resorts in the Red Sea and South Sinai during the second half of the running year, Arab Business reports.
The occupancy rate, now stands at 70 per cent due to the pandemic. Prior to the covid-19 pandemic, Egypt boasted 210,000 hotel rooms.
About 900 hotels have resumed activities by mid-December, the media notes adding that 950 more are expected to resume their operations by the end of 2021 out of a total of 1,200 licensed hotels in Egypt.
