Malaysia is one of the world’s top tourist destinations, so it comes as no surprise that a hotel business would thrive in such a setting. The hospitality industry in Malaysia has benefitted greatly from the country’s tourism growth, and world-class hotels have mushroomed all over, establishing various branches all over the nation.
While there is definitely a demand for hotels in Malaysia, an entrepreneur seeking to establish one here would need to take several things into consideration. Some of these considerations include the following:
- The Cost – The cost of starting a business is one that an investor has to put a lot of careful thought into, especially into something as major as a hotel. Evaluations with actual figures, numbers and specific data need to be laid out and investors need to ensure there is sufficient funds to begin the venture and sustain it for a period of time.
- The Competition – The tourism industry in Malaysia is one of the most competitive fields of business, and before beginning any business venture, it is first important to check out the competition. How is this done? Through market evaluation. Get to know your competition thoroughly and what you are going to be up against should you choose to establish a hotel in Malaysia.
- Employees – One of the best things about opening a hotel in Malaysia? You will have no shortage of employees to fill the ranks within your company. The local labour force in the country is more than equipped and highly educated and skilled enough to take on the challenges of working in this industry.
- The Legislation – Opening a hotel in Malaysia as a foreigner would have different rules and licensing requirements. To begin operating a hotel, a Malaysian business licenses is compulsory.
What Requirements Are Needed to Start a Hotel Business in Malaysia?
Reserving a hotel name for one thing. Opening a hotel business in Malaysia requires several aspects to be fulfilled, and this includes:
- Company Incorporation
- Drafting the Constitution
- Registering with the tax authorities
- Submitting the necessary documents with the Companies Commission of Malaysia
In addition to this, hotels – especially 5-star hotels in Malaysia – require several licenses to be obtained if the entrepreneur is going to fully reap all the benefits that running a hotel has to offer. These include licenses to:
- Sell alcoholic beverages at bars, coffee shops and/or restaurants
- Use commercials and advertisements in the hotel
- Create a swimming pool and parking lot
- Open a beauty salon
- All indoor facilities and entertainment
Want to start a hotel business in Malaysia? Make an appointment with us to get started, and you’ll be assured of the best assistance possible as we help you meet all your business objectives, goals and more. Contact us today for more information.