Richmond Asia Group signs hotel management deal with Barceló Hotel Group

• The single tower, 18-storey Richmond Estelar offers 199 suites with built-ups ranging from 323 to 646 sq ft. The hotel will include a Michelin-starred sky dining experience and concierge services, reinforcing its positioning as a lifestyle-oriented, income-generating real estate investment.

KUALA LUMPUR (Oct 17): Richmond Asia Group has entered into a hotel management agreement with Spain’s Barceló Hotel Group to operate its new property, Richmond Estelar in Kuala Lumpur.

The single tower, 18-storey Richmond Estelar offers 199 suites with built-ups ranging from 323 to 646 sq ft. The hotel will include a Michelin-starred sky dining experience and concierge services, reinforcing its positioning as a lifestyle-oriented, income-generating real estate investment.

The tentative average daily rate of the hotel starts from RM700, and it is scheduled for completion in the fourth quarter of 2028.

“This partnership with Barceló Hotel marks a new chapter for Richmond Asia. By combining Barceló Hotel’s global standards with our investment-led strategy, we deliver world-class service and sustainable returns," said Richmond Asia chief executive officer and executive director Aaron Yap in a statement issued on Wednesday.

Meanwhile, Barceló Hotel chief operations officer for Mediterranean—Middle & Asia José Canals said, in the same statement, the partnership marks the group’s continued expansion into Southeast Asia and aligns with Richmond Asia’s strategy of creating investment-led hospitality assets in central Kuala Lumpur.

“At Barceló Hotel, we bring decades of hospitality experience to this partnership to create a hotel that delights guests, adds value for investors and strengthens local communities,” Canals noted.

Founded in 1931, Barceló Hotel operates more than 300 hotels in 30 countries and brings a global distribution network, including its Ávoris travel division and the My Barceló loyalty programme, to the collaboration.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.