Tourists are beginning to return to Egypt and, tour operator Thomas Cook has revealed, as it reported upbeat summer bookings numbers.
British tour operator Thomas Cook (TCG.L) said it expected to hit its full-year operating targets after seeing early signs that tourists were returning to troubled markets Turkey and Egypt.
The travel agent Thomas Cook reported a rise in bookings to both countries this year.
“After a slow start to the season and a tough year in 2016, we’re seeing early signs that customers are beginning to go back to Turkey and Egypt,” said Peter Fankhauser, the chief executive of Thomas Cook.
Thomas Cook, which unnerved investors in February when it issued a cautious outlook, said trading for the group was progressing in line with expectations. While it saw some margin pressure due to more competition, demand for summer holidays was strong.
“After a slow start to the season and a tough year in 2016, we’re seeing early signs that customers are beginning to go back to Turkey and Egypt,” it said.
The average hotel occupancy in Cairo is expected to increase 7 per cent this year to touch 64 per cent, while the average daily room rate is expected to rise by 2 per cent to touch US$137, according to the consultancy Colliers International.
On a separate note, Cairo and Moscow are set to sign an aviation safety protocol next Summer to monitor the adoption of airport safety measures.