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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 Malaysia have jumped 40% year-to-date due to rising interest from both local and overseas investors, says Previndran Singhe of Zerin Properties, adding that prices for hotel properties have dropped by as much as 35% as compared to pre-lockdown times. ....

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Early target for herd immunity

IF ALL goes well, Penang could achieve Covid-19 herd immunity earlier than expected, with 70% or 1.38 million people, getting vaccinated by August.
State health committee chairman Dr Norlela Ariffin said the present vaccination of 14, 814 daily doses this month would be ramped up to 35, 165 doses next month, and 35, 572 doses in August.
She said 103, 627 targeted recipients in the state had obtained the first dose while another 73, 607 had received both doses as of June 3.
Dr Norlela said a comprehensive plan was presented at the Covid-19 Immunisation Task Force (CITF) meeting recently.
“All our systems are in place to attain this. These proposals were discussed at an earlier CITF meeting. ....

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Guan Eng accuses Putrajaya of inaction as Malaysia's hotels, tourism wither and die | Malaysia

Tuesday, 26 Jan 2021 04:57 PM MYT
BY JERRY CHOONG
DAP secretary-general Lim Guan Eng speaks during a press conference at Wisma DAP in George Town January 7, 2021. Picture by Sayuti Zainudin
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KUALA LUMPUR, Jan 26 Former finance minister Lim Guan Eng said the federal government still has not grasped the severity of the problems facing the local hotel and tourism industry that was on the verge of collapse.
Instead, he suggested that the Perikatan Nasional administration under Prime Minister Tan Sri Muhyiddin Yassin appeared to be more focused on pursuits such as an Emergency proclamation and suspending Parliament. ....

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