10% of Hotels in Siem Reap Open, Yet to See Profit

• 28 October 2020
• Property Focus
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Around 10% of hotels in Siem Reap are now open for operation, however, none of them are able to earn a profit, according to the president of Hotel Association of Cambodia, Siem Reap Branch.

David Jaya PIOT, President of the Cambodian Hotel Association in Siem Reap, was quoted in AKP on 27 October that due to the COVID-19 crisis, the hotel business was suffering. Some hotels are closing while some are selling out their business.

He added that around 10% of the hotels are operating as of the end of October. Those hotels focus on local tourists and are not profitable, but can withstand the monthly costs.

For the first four months of 2020, foreign tourists to Cambodia dropped by more than 70%. Nearly 3,000 tourism-related businesses have been closed; including over 1,000 hotels, guesthouses and restaurants have been shut down, resulting in thousands of people losing their jobs.

• Business and Market
• Tourism and Travelling