FINANCIAL NEWS

Hotels in MENA record 8% increase in prices

06 Apr 2013

(MENAFN) According to HotelsCombined’s latest Hotel Price Trends Report, hotel prices in the Middle East and North Africa (MENA) region rose by 8 percent in December, January and February 2012/13, from the same period in 2011/12, reported Arabian Business.

The region ranked as the world’s top in terms of price increases, due to the ongoing investments and the added attractions that draw both leisure and business travelers.

In terms of cities, Alanya and Marmaris in Turkey and Sousse in Tunisia posted the highest rises in the 3-month period.

Meanwhile, globally, hotel prices grew by 4 percent, with Bintan in Indonesia and Vilamoura in Portugal experiencing the highest increases.

It is worth noting that the steepest declines in hotel prices in the period were registered in Spain’s Menorca, Belarus’ Minsk, Ukraine’s Kiev, Lebanon’s Beirut and Italy’s Rimini.

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