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Hotel business to stay slow in 2021, says central bank | The Malaysian Insight

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Hotel business to stay slow in 2021, says central bank

Restrictions on international travel could take some time to ease, says Bank Negara Malaysia, keeping the hotel industry supressed. – The Malaysian Insight pic by Hasnoor Hussain, March 31, 2021.

MARKET conditions for hotels are likely to remain modest throughout 2021 amid intense competition for a smaller pool of travellers, higher operational costs due to the imposition of standard operating procedure, and slow recovery in travel demand, said Bank Negara Malaysia . It said the outlook for the hospitality industry remains highly dependent on the stringency and duration of interstate and international border restrictions.

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Bank Negara: Hotel business to remain modest throughout 2021 | Malay MailKUALA LUMPUR, March 31 ― Market conditions for hotels are likely to remain modest throughout 2021 amid intense competition for a smaller pool of travellers, higher operational costs due to the imposition of standard operating procedures, and slow recovery in travel demand, said Bank Negara...
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