support@kopiandproperty.com

Advertisement Banner

Hotels for sale? Many are fake and old listings yeah.

When we have some good news, NO ONE forwards. In fact some even questioned why I always like to write about good news. Erm… even this is wrong? Haha. When we have some bad news, everyone talks about it. When we have some FAKE NEWS where no source were stated, somehow it will become a big news. One such case just got blown up, real big.

Someone forwarded to me but I deleted it way earlier because to me, if the news some with a legitimate article from a mass media site, then maybe it’s true. If it’s just a list with some messages as if that person is an expert, then guys ah… delete lah. This is the news we are talking about.

Article in theedgemarkets.com One list of hotels which is said to be up for sale via Whatsapp is said to be fake. Zerin Properties managing director and chief executive officer (CEO) Previndran Singhe said this about the list of hotels said to be on sale, “It has created a misconception about the future of the hospitality industry where it was the subject of a news report that further amplified the unease and concerns of those involved in this sector. I must stress that not all hotels on the list are for sale. There seems to be an element of fraud with prices obviously marked up.”

My good friend Penang’s Raine & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh gave his objective assessment of the viralled Whatsapp message. He said, “While some are for sale, many are not. They are operationally closed and most hotels usually do sales privately. Some of the hotels listed are held by big players and they are definitely not selling.” Geh also shared that some of these hotels were even offered to become a quarantine centre but the owners felt that it’s better to just close the hotels temporarily. Do refer to more comments in the Article in theedgemarkets.com

Actually, whenever I travel with my family, I would always prefer to stay in hotels. Somehow I feel that service remains very important and it’s not just about how cheap the accommodation could be. Plus, as usual I prefer to just walk down for breakfast versus having to drive out, find a car park in an unfamiliar territory and then having to walk if I were to park some distance away. However, hotels have been under a lot of pressure from all the additional homestay choices and this did not happen only after COVID-19. It has happened for some time.

So, there’s really no need to keep forwarding. So, what do people get from more panic in the market? Actually, I have no idea. Maybe someone really wanted to crash the market so that they could pick up everything on the cheap. Happy following yeah.

Please LIKE kopiandproperty.com FB page or Sign Up for free to get daily updates about the property market. Else, follow me on Twitter here.

Next suggested article: Build our cash pile and reduce our debts this year of the rat

Property Investment always start with knowledge. Equip ourselves with more here.

Motion arrow towards right
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Motion arrow towards right
Share on facebook
Share on twitter
Share on linkedin
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

Advertisement Banner

Facebook Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like