Amid fear of chaos before and after the national polls, a significant number of foreigners left Bangladesh, leaving occupancy rate in upmarket hotels and guest houses in the capital to fall.
Many posh hotels are seeing record low turnout of guests and fear substantial financial losses as a result.
Due to such a low occupancy, the management of some hotels and guest houses have sent their employees on leave.
Officials of some hotels said if post-poll chaos begins and drags on, no foreigners will come to visit Bangladesh in the coming weeks.
They said a good number of foreigners, who wanted to visit Bangladesh ahead of the polls, have cancelled bookings last minute, after being denied visas, or fearing political chaos.
Some, however, noted many foreigners usually leave Bangladesh every December to pass holidays with their near and dear ones, which dragged down the tenancy rate in hotels.
The US embassy on Wednesday asked all American citizens to obtain visas before arriving in Bangladesh, since some of them have been denied visas on arrival at the airport.
Meantime, the US ambassador in Dhaka Earl R Miller on Thursday expressed fear about possible violence on the Election Day, which falls on Sunday.
Contacted, an official of the Pan Pacific Sonargaon Dhaka preferring anonymity told the FE the occupancy rate at the hotel falls significantly ahead of the elections.
She, however, did not disclose the number of guests staying at the hotel on Thursday and the booking turnout for the coming days.
Generally, the number of foreign guests remains lower in December on account of holidays in connection with Christmas and the New Year, she said.
Still, he said the hotel expected an increased number of foreign guests before the election.
Front Office Manager of Sundarban Hotel Abdus Sattar said the number of foreign guests has dipped to almost zero ahead of election, which has not happened during the last 10 years.
He also said the occupancy by even local residents has almost halved compared to the same period last year.
Mr Sattar argued that the existing political situation and possible violence before and after elections might lead to the low turnout of guests.
Assistant communication manager at InterContinental Dhaka Syeda Faica Fareea told the FE the international chain hotel launched operation earlier in the month after renovation.
This month's overall turnout of guests is "very low", she said.
Ms Fareea also said the hotel management was expecting more foreign guests ahead of the parliamentary election since usually many international observers come to visit Bangladesh during the national polls.
Sales Manager at FARS Hotel and Resorts in Dhaka Delwar Hosain said the hotel has been experiencing the lowest turnout of guests in the last five years.
The number of foreign and local guests has already halved so far this month compared to the last year, he said.
An official at a four star hotel located in Gulshan said foreign guests mostly occupy this throughout the year.
"But ahead of the national polls, the number of guests has gone down to almost zero," he told the FE.
He said the authorities have sent some employees on leave seeing the free fall in occupancy.
Abidur Rahman, a front desk official of a guest house in the city's Banani area, said he did not see such a low occupancy in his hotel in the past year.
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