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The fall in tourist numbers over the past five years has not dampened the hotel industry, as locals' demand for luxury beds has allowed hoteliers to increase prices to survive the headwinds PHOTO: COURTESY
The fall in tourist numbers over the past five years has not dampened the hotel industry, as locals' demand for luxury beds has allowed hoteliers to increase prices to survive the headwinds.
According to investment firm Cytonn, from 2011 to 2015, international arrivals fell 10 per cent from 1.8 million to 1.1 million, while bed occupancy fell from 40 per cent to 29 per cent.
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