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48 hotels shut down temporarily in Egypt due to political turmoil

A total of 48 hotel management companies and owners have decided to temporarily shut down their facilities in Egypt to avoid losses, following a steep decline in the number of tourists travelling to southern Sinai, Daily News Egypt has reported. The cities of Taba and Sharm Al-Sheikh saw the closure of 18 and 30 hotels, respectively, the report said. Hotel occupancy rates in Taba have been steadily decreasing since the outbreak of the January 25 popular uprising, more than two and a half years ago, said member of the Nuweiba and Taba Investors Organisation, Hani Gawish. Occupancy rates for hotels in the region have hovered between 3% and 5%, compared with 30% to 40% during the same time last year, he said.