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AS markets crash worldwide and businesses tumble owing to the global financial crisis, many companies are struggling to keep their heads above water.
Bahrain, according to a news report quoting the Central Bank of Bahrain (CBB) governor Rasheed Al Maraj, has 'not been affected' by the monetary crisis.
Chadi Sleiman, general manager of the Coral Beach Club in Manama, explains how the situation is affecting the hospitality sector.
He said: "Any kind of crisis will have some impact on businesses. In Bahrain, we have two major sectors, namely the oil and banking sectors which are both facing problems.
"In the hospitality industry, the impact is slightly visible. Restaurants may not necessarily lose customers, but there will be a change in spending habits.
"For instance, instead of ordering a grilled lobster they might go for a grilled chicken.
"Luxury establishments may, however, face the brunt of the downturn. Due to the crisis, several companies are reducing their budgets and cutting costs to survive. This includes, choosing less extravagant accommodation for employees such as four-star hotels instead of five."
Mr Sleiman, 31, said that Coral Beach Club has witnessed a drop in corporate business but has seen an increase in leisure activities.
He added: "With this situation there is constant worry amongst people about job security. In Dubai more than 60,000 people were fired in the last three months.
"On our behalf, we will continue to strive to do the best for our customers and help cheer them up and make them smile.
"People cannot stay at home, they will get sick of that."
Lebanese Mr Sleiman has been on the island for the past 18 months and is one of the youngest general managers in the kingdom.
He began his career in Lebanon in 1995, where he completed his hotel management course from the Ecole Hotelier Al Kafaat.
He then moved to France in 1998 and continued to pursue his studies by joining the Ecole Hotelier de Toulouse.
Moving back to Lebanon he opened the Phoenicia Intercontinental followed by the Mzaar Intercontinental. He then moved to Kuwait, Qatar and India before coming to Bahrain.
