Sharm el Sheikh

Tourism Tattler - - BUSINESS & FINANCE -

Sharm El Sheikh has en­dured a tough year in 2016. Oc­cu­pancy and ADR plunged fol­low­ing the ter­ror­ist at­tacks in the Red Sea des­ti­na­tion. Many coun­tries strength­ened travel bans, air­lines can­celled their flights to the city and most tour-op­er­a­tors called off their book­ings. A sub­se­quent 54.1% de­crease in REVPAR has brought val­ues down to be­low US$28,000, a level that the city has never ex­pe­ri­enced be­fore. How­ever, with­out any buy­ers and sellers, this num­ber is not much but a math­e­mat­i­cal cal­cu­la­tion. It does not re­flect the ac­tual real es­tate val­ues but the cur­rent un­for­tu­nate sit­u­a­tion in Sharm El Sheikh that is hope­fully to be short-lived as the gov­ern­ment put ef­forts into anti-ter­ror­ism poli­cies. For de­tailed anal­y­sis visit http://hvi.hvs.com/mar­ket/africa/Egypt_-_Shar­m_el_Sheikh

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