Egypt’s hotels run at half capacity
THE occupancy rate of Egypt's hotels, which are running at half capacity due to COVID-19 regulations, was between 40% and 45% in the first quarter, an official from the tourism ministry told Reuters yesterday. This amounts to an occupancy rate of nearly 25% if hotels were running at full capacity, according to Reuters calculations. Tourism accounts for up to 15% of Egypt's national output, and is a key source of foreign currency. The industry revenues plunged 70% in 2020 due to the coronavirus pandemic, with numbers of visitors sinking to 3.5 million from 13.1 million in 2019. Egypt received 500,000…