5-star hotels in KL up for sale as Covid-19 woes drag on

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Hotels in Kuala Lumpur have been heavily affected by the travel restrictions implemented across the world to curb Covid-19.PETALING JAYA: The owners of some of Kuala Lumpur’s finest hotels are putting their properties up for sale as the Covid-19 pandemic continues to cripple the travel and hospitality industry. Malaysian Association of Hotel Owners executive director Shaharuddin M Saaid said many hotel owners want to cash in on their properties as revenue has all but dried up due to travel restrictions across the world. Speaking to FMT, he said some 20 hotels had already closed, adding that this was no surprise. In recent weeks, a number of unnamed hotels, including five-star properties, have been listed for sale on iproperty.com.my. Asking prices vary but five-star hotels are being listed from RM350 million to as much as RM1.7 billion in the city centre. Shaharuddin said some hot…