Hotel industry's defining moment
The industry is already running on massive losses due to low occupancy rates throughout 2020 until now. Compounding matters is that there is little visibility in sight of when movement and travel bans will be lifted due to the third wave of the Covid-19 pandemic resulting from new highly transmissible and airborne variants. Like many businesses that face challenging times, mergers and acquisitions deals involving hotels are popping up as owners opt to sell out rather than incur more losses. Meanwhile opportunistic buyers with fat wallets are scouring the scene. Listings of hotels for sale in ...
Source: thestar.com.my