Latest Developments from the Hospitality Sector This Week.

  • The Egyptian government has announced that domestic tourism, which had been suspended for over two months due to the COVID-19 pandemic, can now resume. The government approved a number of measures in coordination with the Ministry of Tourism and Antiquities and the Ministry of Health, and in accordance with the directions of the World Health Organization.
  • The government of Egypt is set to construct a tourist and cultural hub at a cost of over USD 254 million in Magra El-Oyoun Fence, a historical site constructed in the 16th century during the Mamluk era.
  • The World Bank has revised Kenya’s 2020 economic growth forecast to 1.5 percent this year but warned of possible contraction in case of prolonged Covid-19 outbreak. Tourism, agricultural exports are some of the sectors hardest hit by the outbreak-induced economic slowdown, the bank says in its latest economic update.
  • Egypt is allowing hotels to reopen for domestic tourists on condition they operate at no more than 25 percent capacity until the end of May and implement a range of other health measures to guard against the new coronavirus.
  • The World Tourism Organization (UNWTO) has released a Tourism Recovery Technical Assistance Package to offer guidance to Member States in response to COVID-19. The package is structured around three main pillars: economic recovery, marketing and promotion and institutional strengthening and resilience building.
  • Airbnb slump means European cities can try to retake control of apartments. Short-term rental hosts are turning to traditional apartment rentals during the coronavirus crisis, but no one knows how they will react when tourists eventually return.
  • Marriott International’s first-quarter 2020 results were dramatically impacted by the COVID‐19 global pandemic and efforts to contain it, according to the company. Arne M. Sorenson, president/CEO, said the company has seen the impact of COVID-19 spread throughout its business in an unprecedented way.
  • On Monday 18 and Tuesday 19 May, Questex Hospitality Group will host In Sync, a virtual event, that commits to uniting senior leadership across the global hospitality sector. The event programme will look at the global hospitality investment landscape and how to plan for its future and include discussions from global CEOs and hospitality investors.