Peh: In 2017, 60% of the visitors who visited Penang were healthcare tourists. (Photo by Low Yen Yeing/EdgeProp.my)
KUALA LUMPUR (Feb 21): Medical tourism will continue to support the growth of Penang’s hotel property sector which could also create multiplier effects on the northern region’s economy, said CBRE|WTW Penang branch director Peh Seng Yee.
“The Penang tourism industry continues to enjoy steady growth, benefitting from medical tourism. In 2017, 60% of the visitors who visited Penang were healthcare tourists. This industry has contributed half a billion ringgit to the state,” he told the audience during his session on the “Northern region market performance and outlook” at the 12th Malaysian Property Summit 2019 today.
he one-day conference is organised by Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS), while Edgeprop.my is the event’s media partner.
According to Peh, Malaysia has been chosen as one of the top ten destinations for medical tourism globally.
The robust growth of medical tourism, he said, has resulted in the need for more hotel rooms with the average hotel occupancy rate in Penang currently around 65% to 70%.
CBRE|WTW data showed that there are 12,723 hotel rooms in total of which around 85% or 10,863 are located on Penang island.
However, Peh expects the competition between hoteliers in Penang to become more intense going forward while occupancy rates moderate, due to rising incoming supply and more rooms being provided by Airbnb operators.
He noted that more international hotels will be entering the market in the near future including Courtyard by Marriott and Ritz Carlton Hotel.
“Besides that, medical centre operators are also eyeing opportunities in the hospitality segment and looking to offer hotel rooms as well such as Island Medical Centre and KL International Dental Centre,” said Peh.
Source: EdgeProp
shahizam.f@mhtc.org.my
Muhammad Rasydan Ma’at
Asst. Manager, Communications
+603 8776 6168
rasydan.m@mhtc.org.my
Malaysia Healthcare Travel Council (MHTC), established in 2009 under the purview of the Ministry of Health (MOH) Malaysia, is entrusted with developing and nurturing the “Malaysia Healthcare” brand. MHTC enhances, coordinates, and promotes Malaysia’s healthcare travel industry by fostering industry collaborations and building valuable public-private partnerships both domestically and internationally. With 80 member hospitals nationwide, MHTC continues to elevate the healthcare travel ecosystem through strong branding, seamless patient experiences, and strategic market initiatives. In line with these efforts, MHTC is spearheading the Malaysia Year of Medical Tourism (MYMT) 2026, the nation’s first dedicated year to celebrate and advance healthcare travel. MYMT 2026 serves as a milestone initiative to showcase Malaysia’s world-class healthcare offerings, strengthen its position as the premier global healthcare destination, and highlight the industry’s significant contribution to the national economy. More information can be found at https://www.mhtc.org.my/.
