JLL Urges Hotels, Retailers to Cut Costs, Seek Backups

The hotel and retail sectors should prepare for stringent cost-cutting and find alternative income sources for as long as there is no coronavirus vaccine, as it will take two years for businesses to resume as usual, according to property consultant JLL Thailand.

JLL managing director Suphin Mechuchep said the hotel sector has borne the brunt of the impact of the outbreak because it is reliant on the tourism industry, particularly inbound arrivals.

“Covid-19 has created an extreme negative impact on the hotel business, which worsened in the second quarter as occupancy dipped to a very low rate,” she said. “Reopening during that time might have led to a loss.” Read more…..


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