Until herd immunity is achieved, there is not much that hotels can do except to continue its current marketing campaign, such as hotel workcation packages and extending F&B services or other services to the public, says Rahim & Co International Property Consultants CEO Siva Shanker
In a report by CBRE | WTW, such hotels have been dealing with significantly lower Average Room Rates (ARR) and Average Occupancy Rates (AOR) from the first Movement Control Order (MCO) which began on March 18, 2020.
Beyond our shores, it goes without saying the hotel industry is similarly in deep water as it is a sector that relies heavily on foreign travellers as its main income source.
Malaysian Association of Hotels (MAH) CEO Yap Lip Seng expects that without government assistance, the extension of the travel ban would cause another 10% to 20% of hotel closures with more employees losing their jobs.
The company revealed that M Senyum will be a landed residential project comprising mainly double-storey terraced houses with indicative land size of 18ft by 65 ft and 20 ft by 70 ft. Indicative selling price starts from RM399,000.
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