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FINANCIAL NEWS
Occupancy rate at Manama hotels climbs 40% in Jan
03 Mar 2013
(MENAFN) STR Global stated that occupancy level at hotels in the Bahraini capital Manama surged by 40 percent in January from 2012’s same period to 56.6 percent, reported Arabian Business.
The company said that even though the level saw a big increase, however, it was less than rates recorded in other GCC countries, including Saudi Arabia and Oman.
Meanwhile, revenue per available room (RevPAR) grew by 39.8 percent in the month, reaching USD120.39, the highest rise in the Middle East and Africa region.
It is worth noting that occupancy rate at hotels in the Middle East and Africa rose 8.2 percent in January 2013 to 59.8 percent, whereas average daily rate edged up 1.3 percent to USD182.81 and RevPAR gained 9.6 percent to USD109.29.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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