Tuesday, March 3, 2009

Bali hotels slash rates

Hotels in Bali are slashing room rates amid falling occupancies as the global economic downturn takes its toll on the tourism-dependent economy.

Total foreign arrivals hit a record 1.97 million last year as the island recovered from the impact of the 2005 terrorist attack. The second biggest market behind Japan, Australia accounted for more than 300,000 visitors, up 51 per cent from 2007.

However, the recovery is expected to be disrupted amid the international credit crunch, with the Bali Tourism Authority estimating foreign visitor numbers will drop 8.6 per cent to 1.8 million this year.

Hotels are scrambling to fill rooms. Budget and mid-range properties popular with Kiwis are offering the steepest discounts, with some halving published rates, while upmarket resorts hit by a slowing in the executive market are trying to be more creative in their response to the downturn.

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