Plenitude to shut 3 hotels, downsize others due to Covid-19

TheEdge Mon, Apr 27, 2020 02:12pm - 11 months ago


KUALA LUMPUR (April 27): Plenitude Bhd will be closing the operations of three of its hotels and downsizing operations of other hotels it owns due to the Covid-19 pandemic.

In a bourse filing, Plenitude said the hotels it is closing are Mercure Penang Beach, Penang, The Gurney Resort Hotel and Residences, Penang, and Travelodge Ipoh.

“With domestic and worldwide travel restrictions, the company’s hotels have suffered a significant decrease in business, and the company has no alternative but to downsize its business and operations.

“This will take immediate effect from today,” it said.

Plenitude said its management is closely monitoring the situation and taking all necessary precautions to ensure the safety of its guests and staff.

At the midday break today, Plenitude was unchanged at RM1.03, with a market capitalisation of RM392.98 million.

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