Millennium Hotels and Resorts (MHR) in Singapore has embarked on a work force rationalisation and right-sizing plan following a rigorous review of its Singapore Corporate Office and hotel operations. This is a difficult but inevitable move considering the business recovery outlook on the hospitality industry caused by the COVID-19 pandemic.
The global pandemic and economic fallout have hit the hotels hard. As at 30 June 2020, nearly one third of MHR’s over 145 hotels globally were temporarily closed and those that remained open were operating at much lower occupancies than before. This severely impacted MHR’s operations and performance.
Read Full Article