Its Malaysian Hospitality Investment Intentions Survey, which analysed the investment perspectives of hotel owners, operators and owner-operators, revealed that 14 per cent of the respondents anticipated buying hotel assets within the next two years while 16 per cent looked to make an acquisition even sooner -- within the next six months -- despite the Covid-19 pandemic.
Knight Frank Malaysia executive director of capital markets James Buckley said well capitalised, shrewd investors were looking beyond the pandemic and saw this as an opportunity to acquire prime hotel assets at more reasonable pricing. "A total of 89 per cent of the respondents indicated that tourist arrivals and flight accessibility are crucial in their investment decision-making process.
However, it said with the country now under Movement Control Order 2.0, with the exception of Sarawak, following the resurgence of Covid-19 cases, the road to recovery for the battered tourism industry would be long and hard.