Should we travel to Malta and Spain from March 7-17 with the given situation of the coronavirus outbreak?

It depends only on you. I know that if you write to hotel or aircompany now that you want to cancel your trip regarding coronavirus situation they can cancel no refund tickets/booking without penalties. I did it with connected in China flights. But I don't ready now to cancel/postpone all my trips. I think that you only should be more careful in the process. Good luck.