,Restrictions on international travel could take some time to ease, says Bank Negara Malaysia, keeping the hotel industry supressed. – The Malaysian Insight pic by Hasnoor Hussain, March 31, 2021.
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MARKET conditions for hotels are likely to remain modest throughout 2021 amid intense competition for a smaller pool of travellers, higher operational costs due to the imposition of standard operating procedure, and slow recovery in travel demand, said Bank Negara Malaysia (BNM).
It said the outlook for the hospitality industry remains highly dependent on the stringency and duration of interstate and international border restrictions.