Penang hotels report higher occupancy rate
The Penang chapter of the Malaysian Association of Hotels (MAH) forecasts an increase of two per cent in the state’s hotel occupancy rate, thanks in large part to the Chinese, Indian and Iranian leisure markets. The growth is tempered by a slowing corporate climate, no thanks to global economic uncertainties. George Town hotels reported a drop of one per cent to 64% from January to July this year, compared to the same period in 2011. MAH also reports that an estimated 60% of tourist arrivals this year will be made up of domestic tourists.
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