$40 Million Investment In Bahrain Tourism Industry
MANAMA, Bahrain, Aug. 27, 2012 /PRNewswire-USNewswire/ -- Last week, the InterContinental Hotel Group opened its first Holiday Inn Express in Bahrain. Located near Bahrain International Airport and on Exhibition Avenue, the $40 million state-of-the-art facility will serve as the Kingdom's first limited-service hotel. The investment reflects the emergence of a burgeoning market for budget tourism in the states of the Gulf Cooperation Council.
The 247-room hotel is the InterContinental Hotel Group's third hotel in Bahrain in addition to the InterContinental and Crowne Plaza.
According to the World Travel and Tourism Council, direct contribution to Bahrain's GDP is set to grow by 3.7 percent per year between 2012 and 2022. The travel and tourism industries are expected to reach $865 million in 2022, up from $545 in 2011.
SOURCE Kingdom of Bahrain