BERJAYA GROUP BERHAD - Berjaya Corporation Berhad
BERJAYA GROUP BERHAD - Berjaya Corporation Berhad
BERJAYA GROUP BERHAD - Berjaya Corporation Berhad
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30<br />
CEO’s Review Of Operations<br />
assets to meet these challenges. Special focus<br />
will also be given to loans with the right<br />
portfolio mix with no capping of interest rates.<br />
<strong>BERJAYA</strong><br />
LANGKAWI<br />
BEACH & SPA<br />
RESORT,<br />
LANGKAWI<br />
ISLAND.<br />
occupancies of our Malaysian hotels and resorts.<br />
With strategic locations in Pulau Pinang,<br />
Langkawi, Kuala Lumpur, Redang, Tioman<br />
and Kota Kinabalu, <strong>Berjaya</strong> Hotels and Resorts<br />
is well positioned to benefit from the estimated<br />
seven million tourist arrivals into Malaysia<br />
annually on top of more domestic travelling by<br />
the locals as the economic situation has<br />
drastically reduced spending power abroad.<br />
Our overseas hotels and resorts in Seychelles,<br />
Mauritius, Fiji and Sri Lanka have however<br />
continued to fare well as rising occupancies and<br />
average room rates have not shown any signs of<br />
peaking yet.<br />
VACATION TIME-SHARE, HOTELS, RESORTS AND<br />
RECREATION DEVELOPMENT<br />
The tourism industry in Malaysia has faced a<br />
major setback since the third quarter of last<br />
year when the region was hit by the currency<br />
and economic turmoil. The environmental haze<br />
problem arising from Indonesia as a result of<br />
the El Nino effect at the end of last year had<br />
affected the industry and deterred foreign<br />
tourists from visiting the country. This had<br />
caused a downward trend in our hotel rooms<br />
occupancy mainly attributed to major<br />
cancellation of room bookings by foreign<br />
tourists. During the current economic<br />
downturn, Malaysian tourism will also have to<br />
contend with major tourist destinations like<br />
Thailand, Hong Kong and Singapore as<br />
destinations compete with each other for the<br />
foreign tourist dollar against the backdrop of<br />
depreciated regional currencies. The<br />
government and the private sector had<br />
combined forces to promote tourism more<br />
aggressively in order to be more competitive to<br />
attract foreign tourists to the country. <strong>Berjaya</strong><br />
Hotels and Resorts had immediately restrategized<br />
and implemented innovative<br />
packages together with various marketing and<br />
promotional programmes and managed to<br />
mitigate the downward pressure on the<br />
In keeping with its reputation as one of the<br />
premier Malaysian-based owner-operated<br />
chains, <strong>Berjaya</strong> Hotels & Resorts continued to<br />
make inroads in the international arena to<br />
achieve significant market presence and market<br />
penetration through numerous marketing and<br />
promotion initiatives. <strong>Berjaya</strong> Hotels and<br />
Resorts expects to improve their performance<br />
through continuous marketing initiatives not<br />
only in existing and traditional markets, but<br />
also in new markets and by identifying new<br />
market trends. Our affiliation with Best<br />
Western International, the world’s largest<br />
independent hotel chain, enables our chain to<br />
reap the branding benefits associated with a<br />
world-renowned brand.<br />
<strong>BERJAYA</strong> BEAU<br />
VALLON BAY<br />
BEACH RESORT<br />
& CASINO,<br />
SEYCHELLES.