Thndr Claps » EGY Claps » Tourism 🏖 » Hotels in Egypt starting to see green 🤑
Misr HotelsIn the 2021/2022 financial year, Misr Hotels (MHOT) started making profit, earning EGP 344.7 million compared to a loss of EGP 115.6 million the year before.Revenues jumped up by 734.6% increasing from EGP 63 million in 2020/2021 to EGP 525.8 million in 2021/2022. Misr Hotels reported that the jump in revenues and income was due to an unprecedented amount of revenue from the Nile Ritz Carlton, with their occupancy rates reaching pre-pandemic levels.PyramisaPyramisa (PHTV) also succeeded in gaining profit as they recorded a profit of EGP 4.91 million in 2021, compared to a EGP 6.51 million loss in 2020.Revenues had also seen a small increase of 6.2%, reaching EGP 96.475 million.
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