2012-05-15 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Ernst Young has said the Saudi holy city of Madina is the best performing city in the Middle East for hotel investment, Saudi Gazette has reported. In the first quarter of 2012, Madina had the highest growth in average room rate, increasing 14.9% to $170, while occupancy was also up 15% to an average of 72% in the same period, E Y said. "The reason of it having the highest ROI is due to the fact that there is a growing demand to visit Madina. Nevertheless, unlike Makkah, fewer developments are being set up there and this creates a lack of supply of hotel beds, which drives up the price," Basel Abu Alrub, managing partner of Dubai-based travel agent Utravel commented on the report.  

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