TA Global to temporarily close some hotels worldwide

PETALING JAYA: TA Global Bhd will be temporarily closing a number of its hotels worldwide, as a combined result of the Covid-19 pandemic and various restricted movement initiatives instated by governments in its respective operating markets.

In a filing with Bursa Malaysia, the group said the temporary closure of the hotels is one of the measures to protect the health of guests and employees, support social distancing and control costs.

During the temporary closure period, the company will prudently implement cost control measures and continue to closely monitor the daily developments in the Covid-19 situation, it said.

TA Global also said that it would not be possible to quantify or determine the extent of the impact on the group’s hospitality business and financial position.

“However, this temporary closure is expected to reduce the net cash flow generated by the hotel division in 2020. Nevertheless, the company will undertake appropriate measures to mitigate the current situation and hope that business will return to normalcy by the last quarter of 2020.”

The group’s affected hotels are:

Aava Malacca Hotel, closed from March 19 to April 28 due to the movement control order.

Four Points by Sheraton Bangkok, closed from April 2 until further notice due to mandatory closures of food and beverage (F&B) outlets by Bangkok City Hall, and business disruptions from travel bans and restrictions imposed by the Thai government.

Movenpick Resort and Spa Karon Beach in Phuket, closed from April 1 until further notice due to mandatory F&B closures and hotels and lockdown of Karon in Muang district by order of the Phuket governor.

Radisson Plaza BLU in Sydney, Australia, closed from March 27 until further notice due to mandatory F&B closures, travel ban, closure of borders and entry restrictions for non-residents and non-citizens.

AAVA Whistler Hotel and Trump International Hotel & Tower in Canada, closed from April 4 until further notice, due to mandatory closure of all F&B outlets, business disruptions from travel restrictions, closure of the Canada-US border to non-essential travel and Canada’s ban on foreign nationals entering by air.

source https://www.thesundaily.my/business/ta-global-to-temporarily-close-some-hotels-worldwide-YB2254166