Live Breaking News & Updates on Golden Sands Resort|Page 5
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GEORGE TOWN: They are coming! Having been cooped up for so long, Penang is expected to be swarmed by holidaymakers this “super weekend” with several prominent hotels expecting high occupancy rates. ....
The Corinthia Group has agreed to pay €10.3 million to amend the concession granted to it for land in Ħal Ferħ, allowing the company to develop it for resi ....
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. ....
The MSE Equity Total Return Index eked out a marginal gain, as it closed 0.05% higher at 8,040.399 points. A total of 13 equities were active, where gainers and losers tallied to five-a-piece. Total weekly turnover increased by over three times, as it reached €0.9m – generated across 78 transactions. In the banking industry, Bank of Valletta plc started off the week on a negative note but managed to recover, as it reached a weekly high of €0.90 at which it closed. This is equivalent to a positive 0.6% movement. A total of 16 deals involving 66,626 shares were executed. HSBC Bank Malta plc ended the week 1.3% higher, as 31,570 shares changed ownership across seven transactions. The bank ended the week at €0.80. ....
GEORGE TOWN: With the vaccination programme picking up speed and the mood lightening, Penang hotels are seeing a spike in occupancy and events. Cooped-up Penangites have been heading back to the beach for staycations while bookings for weddings are also on the rise. Angsana Teluk Bahang, the newest kid on the block on the island’s northern tip, has seen a positive trend of increased weekend bookings over the last two weeks. “On average, business has picked up especially for weekend bookings since the reopening of our resort on March 5 when the movement control order was lifted. “This weekend will see the highest bookings over the last few weekends, ” said hotel marketing communications manager Karen Chee. ....