Egypt has endured dramatic political turmoil and instability over the course of the last two years. Beginning in January 2011, the Egyptian Revolution began as a campaign of non-violent civil resistance, which despite its non-violent nature, resulted in 846 dead and 6,000 injured. On the 11th February, 2011, after persistent protest and pressure, history marked the resignation of President Hosni Mubarak and resulted in administrative and legislative control of the country being surrendered to the Supreme Council of the Armed Forces. As a result of the turbulent episode between 2011 and 2012, the hospitality sector endured the backlash and the repercussions of the infamously entitled Arab Spring, with the hotel sector being among the hardest hit both locally and regionally. Throughout this publication, HVS reviews the macroeconomics, the recent performance of the hotel industry in the popular tourist destinations of Cairo and Sharm El Sheikh, and provides an indication of the short-term and the mid-term outlook for the industry.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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