Tuesday, October 13, 2009

Impiana to invest RM200m in new Malaysian, Thai hotels

HOTELIER Impiana Hotels & Resorts will invest some RM200 million over the next three years for new hotels in Malaysia and Thailand.

The hotels will be within the Klang Valley, in Tioman, Pahang, and in Phuket, Thailand.

Chairman Datuk Seri Farouk Abdullah, in a recent interview with Business Times, said it is now building 12 luxury private villas with individual pools, in Kata Noi, Phuket at a cost of RM40 million.

To be ready by end-2009, the Kata Noi hotel is expected to garner between RM3,700 per night for a 1,200 sq ft villa to RM5,500 per night for a 2,500 sq ft suite.
In Malaysia, Impiana group is keen to run a four-star or five-star hotel in Petaling Jaya, Selangor or in Bangsar, Kuala Lumpur and it has budgeted RM100 million for this.

"We are in talks with a few people, but it is still preliminary," he said.

And if it cannot find a suitable property, it will look at building a hotel at one of the two locations it has identified.

He expects to fund the purchase of building with internal funds and borrowings.

"We are working towards raising the funds," he said.

Meanwhile, Farouk said Impiana may also develop up-market villas in Tioman island.

"We are looking at Tioman. We have 10 ha of land there. We are looking at 30 to 40 units of luxury villas," Farouk said, adding that this could cost between RM50 million and RM60 million, excluding land.

Hotels under the group with the Impiana brand are Impiana Resort Cherating, Impiana KLCC Hotel & Spa, Impiana Koh Samui and Impiana Phuket Cabana Resort.

Impiana is also buying the Impiana Casuarina Ipoh, which it has been managing for two years, for RM44 million from Perak Corp Bhd.

The hotel, now rated as a three-star, will undergo a RM5 million makeover to be upgraded to a four-star property and help garner a higher room rate of RM230 and occupancy of 75 per cent.

Meanwhile, Farouk said that is still in talks to buy between 20 per cent and 25 per cent stake in Impiana KLCC from its owners Heritage Lane Sdn Bhd.

Source : MalaysiaPropertyNews
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