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KUALA LUMPUR: Swiss-Garden International Hotels, Resorts & Inns will open five new hotels in Malaysia in the next two to three years. The hotels will be in Butterworth, Penang; Cameron Highlands; Senai, Johor; Kota Kinabalu, Sabah; and Kuantan, Pahang.
“We are also looking for opportunities to set up hotels in countries like Vietnam, Cambodia and Thailand in the next three to five years,” said group general manager of sales and marketing Francis Lee at the soft opening of the Swiss-Garden Residences in KL yesterday. The official opening is scheduled for August.
The hotel chain currently manages and operates seven hotels and resorts in Malaysia and Australia. Lee said the group is also looking to franchise its brand of hospitality products if the opportunity arises. It is also on the look-out for more properties in Australia.
Meanwhile, the Swiss-Garden Residences, situated behind the current Swiss-Garden Hotel along Jalan Galloway, provides high-end four-star service suites within walking distance to Chinatown and Jalan Bukit Bintang.
“The Swiss-Garden Residences will help expand our portfolio in this market segment where the demand and growth opportunities for serviced apartments are growing,” Lee said, adding that this was an opportune time to expand considering the rapid development in the surrounding vicinity such as the redevelopment of the Pudu Jail site.
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| The spanking new Swiss-Garden Residences. |
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| The 1-bedroom deluxe room at Swiss-Garden Residences. |
“The demand for accommodation is growing in Kuala Lumpur be it for corporate, long-stay or leisure travellers,” said Rayan Komatt, group general manager, central region. “On average, the occupancy rate for hotels in KL is around 80%,” he added.
The Swiss-Garden Residences sits on a 1.7-acre site and has a gross development value of RM330 million. It features a south and north tower, which are 33 and 37 storeys respectively. There are a total of 478 rooms.
All the units were launched in 2008 at RM700 per sq ft (psf), and according to Komatt, values have appreciated to RM950 psf today. As many as 80 units are owner-occupied, while 356 rooms are on leaseback to be managed by the hotel with guaranteed returns of 6% per year. The remaining 42 units are under a time-share scheme.
The majority of the rooms are between 550 and 750 sq ft in size while the four penthouses are 2,700 sq ft each. The room choices available include a 1-bedroom deluxe, 1-bedroom executive, 1-bedroom premier deluxe and 2-bedroom premier apartments and penthouses. Room rates are between RM300 and RM330 per night. Facilities include three food and beverage outlets, infinity pool, gymnasium, sauna, children’s playground and launderette.
This article appeared on the Property page, The Edge Financial Daily, April 29, 2011.
