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Abu Dhabi hotels 'second most expensive'

Manama, February 8, 2010

Abu Dhabi moved up to become the second most expensive city to stay in for corporate travellers, from the fifth place, according to an annual survey.

Abu Dhabi came in second after experiencing only one per cent decrease in average prices from 1,303.30 dirhams ($354.8) in 2008 to 1,285.00 dirhams (BD132) last year, says the report by corporate travel services firm Hogg Robinson Group (HRG).

Manama is the fifth most expensive city in the world for corporate travellers. Bahrain's capital jumped 15 places in the rankings last year as massive demand for hotel rooms kept travelling costs high.

The average corporate rate for a room did drop six per cent last year to around BD112.48 a night, compared to BD119.68 in 2008.

However, Bahrain and other Gulf countries did not witness the same slump in hotel prices seen in other parts of the world due to the global financial crisis.

'Manama shooting up to fifth place reflects demand outstripping supply in the area,' the report said.

Moscow was the most expensive city for the fifth year running, with average room rates setting back corporate clients around 13,239.87 Russian roubles (BD164).

New York was third with average rates of $318.98 (BD120) last year, down from $414.52 (BD156) in 2008, while Paris was fourth with the average cost of a room setting corporate travellers back 225.8 euros (BD120) - down from Û253.31 euros (BD135).

Milan, Geneva, Copenhagen, Washington and Athens made up the top 10 list of most expensive cities.

Despite having the highest rates globally, all cities in the top 10 saw a drop in rates in their local currency.

'We have just been through the deepest recession since the 1930s and the recovery remains at a relatively early stage,' said Centre for Economics and Business Research chief executive Douglas McWilliams.

'The latest HRG survey vividly illustrates the effect of the downturn in demand on the hotel market.

'But it also shows signs of recovery across the globe, particularly in dynamic emerging economies,' the chief executive added.

British-based HRG's annual survey is based on a combination of industry intelligence, actual room nights booked and rates paid by its UK clients from January to December last year, compared to the same period in 2008.-TradeArabia News Service




Tags: Lifestyle | Manama | expensive city |

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