SHR Suspends Hotel Operations in Response to COVID-19, Keeping All Employees’ Positions

Singha Estate Public Company Limited (S) has announced that S Hotels and Resorts Public Company Limited (SHR), which operates Hospitality business domestically and internationally and being the subsidiary of S, has temporarily suspended its hotel operations in Thailand, Maldives, and some hotels in UK in response to the COVID-19 crisis.

 

The suspension of hotel operations follow the lockdown measures implemented by many countries where SHR owns or operates its businesses while SHR’s resorts in Fiji and in Mauritius have prepared temporary suspension on operations for foreseeable government directives.

During the period of temporary suspension, all SHR’s employees will remain at their positions while following S’ instruction to stay at home and refrain from travelling, in line with country-specific governmental directives.

With regards to the SHR’s financial status, it emphasizes first and foremost on effective cash management measures at corporate, cluster and property levels. In the meantime, SHR has requested the support to ease cash utilization from financial institutions and its business partners.

In relation to the SHR’s investment plan organically and inorganically according to long-term investment strategy, it would need to incorporate the current situation into consideration which may affect timing and the current investment plan with factored in investment return, emerging risk factors and mitigation based on current circumstance, with group liquidity as top priority to enable SHR to serve the best interest to its stakeholders.

According to the above prudent plans, the concern towards the health and safety of SHR’s guests, employees and our stakeholders is of paramount importance. SHR believes that corporations amongst employees, business partners and financial institutions will render SHR to pass through this crisis.