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Sadly, one hotel closes. Hopefully, another may take over and restart.

Ipoh is my hometown, so as usual I will receive all the Ipoh related news. One particular one was about the Tower Regency Hotel which will be closing down by end of April 2020. An article said that the Movement Control Order (MCO) was that final nail in the coffin for it. In other words, MCO has affected it badly. So, will all other hotels be closing down due to COVID-19? Let’s look at some details in the article first.

Article in thestar.com.my . As per the article based on a circulated Whatsapp, the hotel which started in 2009 has suffered ‘millions’ in losses in the last 3 years as it tried to keep the business running. Actual sentences, “The hotel has tried to make plans in the past few years, but could not predict the market demands and economic uncertainty in the industry. It is with a heavy heart that the hotel needs to take the drastic step of stopping its operations.”

Its hotel managing director Simon Leong replied to a query via Whatsapp. “The hotel industry has been adversely affected by the ‘unfair competition’ from home stays and other unregulated accommodations for some time. The hotel industry needs more and urgent support from our government to survive, and we hope Tower Regency will be able to open our doors again should the situation improve in the near future.” Please do read the full Article in thestar.com.my

Whenever I travel with my family, my first choice would still be hotels and then only followed by homestay is the homestay has been a very popular one and someone has stayed there before and has recommended it. The hotel should be preferably one with kids room and a pool because of my kids. It may just be me but I still think a fully functioning hotel will offer me more safety and assurance compared to a homestay in a newly completed condominium.

Many months ago, I spoke in an event and the developer provided me accommodation for my family and I in a homestay very near to the event place. The pool was amazing, the kids play area was superb and the views were mesmerising. The only issue? Coming out from the lift and along the whole corridor walking back to my unit, only ONE unit was occupied; my unit. I am a human person, so I need more interactions.

So yes, I do think hotels would continue to play an important role in my travel. Well, my wish is simple. Another operator should come in and take over the Tower Regency Hotel. Perhaps some rebranding and reopening after the COVID-19 is totally over and everyone feels it’s okay to travel again. Ipoh is a nice city with lots to offer and hotels should definitely be welcoming more visitors too. Happy staying at home.

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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.

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3 Responses

  1. I feel really sad as Marina Island @ Lumut also closed down. It is my worst investment which i thought my investment secure with their GRR but they business not as expectation and the lease agreement void 2 years later i bought it. A resigned lease agreement will give 50% of the previous GRR. Another 2 years later which is yesterday gotta know that hotel business cannot sustain due to the convid19, really upset and regret to go into property investment.

    1. GRR should be from a reputable developer. Else, it should be at a very popular place. This will not mean no risk but less risk. Hopefully a solution can be found for all owners.

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