IPOH (April 1): The 4-star Tower Regency Hotel (pictured) here announced its closure to cut losses from the COVID-19 pandemic and Movement Restriction Order.
According to an internal notice issued by Tower Regency Hotel management to its staff sighted by China Press, the hotel will shut-down and cease operations on April 30 to cut losses accumulating over the past three years.
One of the shareholders has confirmed the news with China Press. He also commented that the government stimulus package does not really offer any help to SMEs and hotel operators.
Meanwhile, Ritz Garden Hotel also issued a notice to announce a temporary closure of the hotel from April 1 onwards for three- to six months, depending on the situation of the COVID-19 crisis, reported the daily.
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