Hotel industry feeling the brunt of the virus impact

said they are temporarily closing their hotels and resorts due to the impact of the pandemic on the global hospitality business.

It also cautioned investors that given the evolving circumstances, it is not possible for the company to quantify or determine the extent of the impact on its business and financial position. A popular hotel in Ipoh has also said it will be closing its doors for good at the end of this month owing to financial problems which were exacerbated by the MCO.

“It is with a heavy heart that the hotel needs to take the drastic step of stopping its operations, ” it said in the memo.

businesses also need to have emergency savings, don’t keep using your cash to compensate underperforming top management, incurring ridiculous debts for nonperforming diversification..

Forecast occupancy rate for May and June 2020 Overly optimistic

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Covid-19: Use of hotels as quarantine centres will help hospitality industryNSTnation: MATTA has applauded the move by the Tourism Ministry and the National Security Council to declare the hotel industry among critical sectors which can continue to operate during the Movement Control Order.
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