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iDimension, Eversafe, Kluang, IQ Group, Y&G, SKB Shutters, Impiana
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Ann Joo, Brahim s, IQ Group, KSL, Mulpha, Harrisons, CI Holdings, Impiana, DPI Holdings
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Impiana Hotels secures five-year contract to manage Petronas Leadership Centre in Bangi | Money
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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.