REUTERS: In the marble lobby of one of Bahrain's most prestigious hotels, smartly-uniformed staff with polite smiles outnumber the few guests. The Saudi cars normally parked outside are conspicuous by their absence.Once a relaxed and business-friendly island on the edge of the conservative kingdom of Saudi Arabia, Bahrain's economy has been brought to a standstill by unrest that has sucked in neighbouring armies and sent investors and expatriates running.
Gulf Hotel has closed some of its floors and cut back restaurant hours while some of its staff are on voluntary leave.
"Our occupancy has dropped from the high 90s to the low 25 and 30s, so our business has been badly effected in all areas," Gulf Hotel CEO Aqeel Raees told Reuters in an interview.
"Everybody in Bahrain has been affected ... For the business to recover[, it] will take time, because all planned activities, conferences, exhibitions, meetings have been postponed or cancelled."
Bahrain has been gripped by unrest since protesters took to the street last month, setting up camp at Pearl roundabout. Last week, they cut off the road to the financial district, prompting the government to call in Gulf Arab troops, impose martial law and launch a crackdown that drove protesters off the streets.
Bahrain's four main shopping malls were cut off from customers for five days and shops around the city were shut as fear spread. They have begun to reopen, but business is slow.
"The unrest has not just affected us but the whole economy," said Ahmed Sanad, head of the hotel and restaurant association.
"Our occupancy is down from near 100 percent to 30 percent. We can't do anything... People want one thing, the government wants another and business...is stuck in the middle and losing."
"If everyone pulls in a different direction we will all suffer. We must all offer concessions or we are all losers." » | Lin Noueihed | MANAMA | Thursday, March 24, 2011
