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Manama is fifth costliest city in the world
Manama is the fifth costliest city in the world for corporate travelers, according to annual survey.
A report by corporate travel services firm Hogg Robinson Group (HRG), states that Manama follows Moscow, Abu Dhabi, New York and Paris as most expensive place to stay in.
Manama jumped 15 places in the rankings last year, with huge demand for hotel rooms resulting in high cost of travel. The average corporate rate for a room dropped 6 percent last year to about BD112.48 a night, compared to BD119.68 in 2008.
However, Bahrain and other Gulf countries did not feel the same slump in hotel prices, as in other parts of the world, due to global financial crisis. Manama’s shooting up to fifth position is an indication of demand surpassing supply in the area, the report pointed out.
Moscow was found to be the most expensive city for the fifth consecutive year, with average room rates for corporate clients around 13,239.87 Russian roubles (BD164). This was followed by Abu Dhabi with average prices in the range BD132 last year. New York was the third with average rates at BD120, while Paris was the fourth at BD120, down from BD135 recorded in 2008.
The other cities that made it to the list of top ten expensive cities were Milan, Geneva, Copenhagen, Washington and Athens.
A point to be noted was despite having the highest rates globally, all top ten cities notices drop in rates in their local currency compared to the previous year.
The annual survey by the British-based HRG is based on a combination of industry intelligence, actual Bahrain hotel room nights books, rates paid by the UK clients from January to December in 2009, compared to same period of 2008.
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