10 more upcoming hotels in Penang. Oversupply?

10 more upcoming hotels in Penang. Oversupply?

Until today, when I am traveling, I would still prefer hotels over AirBnB. Safety is one. I have stayed in a homestay where my unit was the only one which was occupied in the whole corridor. I also prefer to have an immediate response to any issues in the room. I also think that having a breakfast ready for me if better than me driving out to find a place which I may not be familiar with. However, could there be an oversupply of hotels when 10 new ones are built within a few years in Penang? Penang Chief Minister does not think so.

Article in malaymail.com. Penang is set to see 10 new hotels with 4,000 rooms over the next few years as the state continues to attract more tourists, said Chief Minister Chow Kon Yeow.

Chow said he does not think there will be any issue of an oversupply of hotels in the state.

“In fact, when international conferences or conventions are held, there is often a shortage of hotel rooms. There is definitely room for more hotels to accommodate the increasing number of visitors and tourists to Penang,” he told a press conference here today.

Chow said this after witnessing the signing ceremony between MTT Hospitality, a division of the MTT Group Companies, and Pan Pacific Hotels Group to transform Evergreen Laurel Hotel into Gurney Bay Hotel, a Parkroyal partner hotel. The chairman of the MTT Group of Companies Datuk Seri Kenny Ong and the chief executive officer of the Pan Pacific Hotels Group, Choe Peng Sum, signed on behalf of their respective companies. Please do read here for more details: Article in malaymail.com.

More tourists also meant higher demand for accommodations

I think Penang can attract a lot more tourists. Perhaps double digits growth every year is also an easy target too. We just need to continue ensuring and approving more airlines to fly into Penang. As for the 10 new hotels, it will help to ensure competitive prices for hotels in Penang. I also do not believe hotels can be popular forever because after some time, the hotel will need to renew itself. Newer hotels will come in and take away some customers who may prefer a newer hotel instead. This is why I think these 10 hotels are good for Penang.

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