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Hold on or fold up
Hotels and tour agencies: With some Singapore hotels shut, agencies tap locals
As the coronavirus pandemic continues to batter the economy, some companies find themselves at a crossroads: Should they stick it out or cut their losses? The Sunday Times looks at how three sectors are coping.
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Wanderlust, one of three hotels under 8M Real Estate, has been closed ever since Singapore entered the circuit breaker in April. Meanwhile, its staff have been going for skills upgrading courses.
ST PHOTO: ONG WEE JIN
Charmaine Ng
For nearly eight months now, boutique hotels Ann Siang House, Kesa House and Wanderlust have remained closed.
Opening the hotels, which are managed by property investment company 8M Real Estate, would not make financial sense as there are still no tourists and local demand would not be able to make up for the costs involved in running the hotels, chief operating officer Sara Villarreal told The Sunday Times.
