I spent four nights in Sharm el Sheikh. It was OK as a place to relax on the beach and at the pool, but disappointing with regard to number and quality of women and the nightlife. Maybe I hit it the wrong time, I saw a 747 with Cyrillic lettering landing as I was leaving.
Hotels - as a place to stay in a 4 / 5 star hotel for little money, Sharm el Sheikh and Egypt in general is hard to beat. I don't know any other country where you can consistently stay in Hyatt, Le Meridien, Marriott, Hilton, Four Seasons hotels for less than 100 USD.
I stayed at the Hyatt Regency resort, which is a little removed from the main nightlife area at Naama Bay, but still only a 30 minute walk or negotiated 4 USD taxi ride (very high compared to Cairo). Service was excellent, decent beach but a little rocky, several pools, good gym, several bars and restaurants, big breakfast buffet included. Spent days at pool or beach.
Unfortunately, other guests were either: (1) older couples, (2) young Russian and Egyptian families. This fit the profile for the visitors I saw in the whole area.
I went out three nights, but really only found things going one night, on a Thursday at Little Buddha in Naama Bay. They had some Ladies' Night going, and there was a decent ratio there.
There were quite a few Russian girls there, but they were either: (1) hot but locked up with some young Spetsnaz-looking guys, or (2) dumpy and frumpy.
After hanging at the bar and scouting around for a half an hour, I saw a slender Asian standing at the bar, and thought: Got lucky, a Korean or a Thai here! Very high cheekbones, very Asian looking, dressed to party with a shoulderless tube-top dress.
She was Yakut from Russia. Spent some time talking to her, her English was adequate. She was married but there without the husband. I was using maps and Wikipedia entries on my smartphone to converse with her and thought I was getting somewhere with her. She asked me to dance, and introduced me to her two (dumpy and frumpy) Russian girlfriends who had been dancing with each other on the dance floor for some time. Then she looked at her watch and flaked on me via the bathroom.
After hanging around the dancefloor, I went back to the bar where I had seen another Asian type dancing with a fat Russian girl. I was lucky, she was alone. She was a Kazakh from Astana, 35 years old. Her English was better. An Egyptian guy next to her tried to intervene / cockblock me, he was their driver / tourguide. I just introduced myself to him and then turned my back on him. I was doing OK with her, but by then it was after 1 am, she said she was getting up at 6 am for some Sinai tour and begged off, I got her email but didn't follow up the next day.
The other nights I never saw places really get going, even after midnight, I wanted to go to Pacha there, but it looked like a waste of 25 USD to go into an empty club. Little Buddha didn't get going the other nights, either. Did not get out to Space, another big club there.
The streets of Naama Bay are pretty busy at night, but too many families and mixed groups, too few groups of girls and single women when I was there. A few scattered pubs and beach bars, never saw much of a crowd in any of them, but I liked the rooftop Camel Bar as a place to hang out and watch the street below.
I might have just hit it at a less-than-optimal time, around the big holidays and especially the Russian Orthodox Christmas in early January is supposed to be the best time, and maybe in February - March, too.
It is a nice place to relax on the beach/at the pool and enjoy five star hotels for three star prices. A younger guy might have had better results, too.