Fake List of Hotels for Sale

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A list of hotels purportedly for sale that is shared on WhatsApp and social media is fake, real estate industry players told The Edge Markets.

Hasnoor Hussain/TMI

They said its circulation is an irresponsible act, as not all hotels on the list are for sale, and prices have been inflated.

Malaysian Association of Hotel Owners (MAHO) executive director Shaharuddin M Saaid told the business portal that he could not verify if the list is genuine, adding that some of the properties were listed previously, while others closed temporarily or permanently.

However, the association has yet to receive official notice on the closed hotels on sale.

Zerin Properties managing director and CEO Previndran Singhe told the business news portal the list had “an element of fraud” because of the marked-up prices and appears to be the work of individuals taking advantage of the economic fallout from the Covid-19 pandemic.

“It has created a misconception about the future of the hospitality industry,” he said.

Another real estate company, Raine & Horne International Zaki + Partners Sdn Bhd in Penang, said most hotels conducted sale privately.

Its senior partner, Michael Geh, said those on the fake list are owned by “big players and they are definitely not selling”.

The Edge Markets said the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) is investigating the list. – TMI