Some budget hotels like in SG are actually enjoying good business now despite the Covid-19. Why?
Read here
You can see due to Covid-19 (again and again), what one country's action can have a drastic action on another country. Travel ban are now common practice amongst many countries as they scrambled with great anxiety to contain the virus within. As number of new cases start to rocket and more deaths registered, fingers are pointing, people are angrier and unhappy, demanding more to be done to help alleviate the situation. Government worldwide are doing their best but the stubborn Covid-19 simply won't give in ..........
Marriott has a good run last Friday, enjoying a near 12% jump. I did say in other posts that pull back or dead cat bounce, whatever you call it is a good selling opportunity. Let's see if it turns true later when the market opens.
Read here
You can see due to Covid-19 (again and again), what one country's action can have a drastic action on another country. Travel ban are now common practice amongst many countries as they scrambled with great anxiety to contain the virus within. As number of new cases start to rocket and more deaths registered, fingers are pointing, people are angrier and unhappy, demanding more to be done to help alleviate the situation. Government worldwide are doing their best but the stubborn Covid-19 simply won't give in ..........
Marriott has a good run last Friday, enjoying a near 12% jump. I did say in other posts that pull back or dead cat bounce, whatever you call it is a good selling opportunity. Let's see if it turns true later when the market opens.
Note
yesterday fierce rally is a rising tide that raise all boats including this counter. Now, it is facing a resistance at 80.30 , if break above, we can then say a good chance of going higher else, this is a selling opportunity.Note
Praise the Lord, it continues to sell down. It was down another 7% last night . Congrats to those who shorted.Note
Think about it, how many workers can you ask to go on unpaid leave ? With no or few customers staying in the hotel , way below the average occupancy rate, the operating costs is way too high for any hotel to bear, be it luxury or budget.Revenue is key to keep the business afloat. It is not about pricing strategy ,even with 50% discount offer, people were told by their government to stay at home. Why take the risk ?
This is probably the worst time that any hotel operators have faced thus far.....
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.