Cairo – Mubasher: Egypt’s hotel market has witnessed improvement during the first half of 2019, supported by the Africa Cup of Nations (AFCON), according to a recent report released by Colliers International.

The coastal city of Alexandria came in the first place with a 26% year-on-year increase in average daily rate (ADR), along with a 7% year-on-year rise in occupancy rate in H1-19.

The large resort cities in the most populous Arab nation continued to see a robust growth in demand and rate over the six-month period ended 30 June, the report added.

Colliers has a positive outlook for Egypt’s hotel sector “with 2019 expected to set a landmark year for tourism,” the report noted.

Cairo’s hospitality market is forecast to see an additional 1,500 keys by 2021, making up a 3% annual increase in the supply.

Other hotel markets in the North African nation are projected to grow at an average rate of 2% annually on the back of the announced projects.