Just like other countries in the world, Malaysia’s travel industry has been navigating through COVID. To re-invigorate the tourism industry, the Government has outlined several strategies in the Twelfth Malaysia Plan (12MP).The Government has also launched a ten-year transformation plan for the tourism industry, called the National Tourism Policy (NTP) 2020 – 2030.
The NTP was formulated to position Malaysia as among the top ten tourist destinations in both arrivals and receipts. One of the key strategies to remain competitive far into the future is to embrace Smart Tourism. Among efforts to restore travel into Malaysia is the establishment of a vaccinated travel lane (VTL). According to CBRE Asia Pacific’s latest Kuala Lumpur Hotel Market Outlook & Prospects 2022 report, more than 3,000 new hotel rooms and hotel suites are slated to open in Kuala Lumpur this year. Also, between 2023 and 2025, 1,260 new hotel rooms will be available.
The Hotel Development and Design Summit will discuss over the development destinations, investment landscape, brand DNA, sustainable design, constructions risks and hotel technologies throughout the fundamental process before hotel operations.
With the rosy prospects, there are a good number of challenges faced with hotel operations and revenue generation including slow return of foreign tourists, manpower shortage, high wages, high operating cost, overheads, supply chain issues. The Hotel Revenue Summit will address the key issues and practical plans to tackle these obstacles in order for hotel operators to capture a revenue rebound for 2023 and onwards.
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