The Bahrain Tourism and Exhibitions Authority (BTEA) recently revealed on the Formula One weekend, 2018 Gulf Air Bahrain Grand Prix, which was held on Sunday April 8th, hotel revenues got a bump with more than 23,000 hotel room bookings.
On the same weekend, occupancy rates for five-star hotels was recorded close to 90%, a report from Bahrain News agency said.
Commenting on the inbound tourists' boost, BTEA chief operating officer H.E. Shaikh Khaled bin Humood Al Khalifa said the “international event showcases the Kingdom’s ability to host leading global events”, the report further stated.
“The Formula One season significantly contributes to the national economy and strengthens the Kingdom's position on the international tourism and sports map as it attracts thousands of visitors from around the world. We look forward to hosting the upcoming Grand Prix," he added.
Hosting the event is part of the kingdom’s goals to build the tourism sector to contribute to the national economy, in line with Bahrain Economic Vision 2030.
In the hotel sector, Jerad Bachar, executive director, investment development at Economic Development Board (EDB) told Hotelier Middle East, that Bahrain expects to see 15 new four- and five-star hotels and resorts to open by 2020 which amounts to 3,400 rooms.