A beach resort in Hurghada
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Hurghada, Muscat to witness tourism boom
DUBAI, July 9, 2018
Egypt's beach resort town Hurghada and Oman's capital city Muscat are expected to become tourist hot spots over the next few months with forecasted growths of 13 per cent and 8 per cent respectively in revenue per available room (RevPAR), according to Colliers International’s Mena Hotel Forecast for June.
Hurghada continues to benefit from positive security perception and chartered flights from traditional source markets. The Egyptian city's increase in revenue per available room (RevPAR) is expected to be driven by the surge in both occupancy and average daily rate (ADR) from the leisure segment.
As for Muscat, RevPAR growth is expected to be boosted by occupancy, which will be driven by corporate and long-term stays. Furthermore, the recent rally in oil prices is also speculated as a reason behind the growth momentum.
According to the report, Dubai and Abu Dhabi can expect to maintain a steady performance over the next three months as the summer season will witness subdued demand across all major segments, however; the markets will witness a sporadic increase in demand due to school holidays in the GCC.
On the other hand, Bahrain capital city Manama and Lebanon's Beirut continue to feel the negative impact of declines in travel demand following limited corporate and Mice activity in Bahrain and a drop in demand from traditional source markets for Beirut.
Manama and Beirut are expected to respectively witness 11 per cent and 6 per cent decline in RevPAR from June 2018 to August 2018. - TradeArabia News Service