KUALA LUMPUR (May 2): Hotel transactions have slowed due to the Covid-19 pandemic but interest in Malaysian hotels has not waned. Property experts believe that hotel sales will pick up in the near future. Property consultancy Knight Frank did a survey in late 2020 that revealed that Malaysia ranked third behind Thailand and Singapore as a hotel investment destination. The survey also indicated that some parties were looking to buy hotels within six to 12 months.
Property experts revealed that hotels within the city centre, particularly those within shopping belts, are preferred. While some owners may offload low-quality assets, prime hotels that are financially strong may decide to weather the slowdown by refurbishing and upgrading the hotels to be ready when international and state travel resumes.
Read more about it in The Edge Malaysia weekly’s May 3 edition.
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