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The Banyan Tree Hotels & Resorts is slated to open in 2015 as part of the Pavilion project on Jalan Conlay near Bukit Bintang.
Kuala Lumpur: The Banyan Tree Hotels & Resorts will be the latest luxury hotel brand that will have a presence in Malaysia.
Slated for opening in 2015, Banyan Tree will be a part of the Pavilion project called Banyan Tree Signatures Kuala Lumpur, located on Jalan Conlay near Bukit Bintang.
Banyan Tree did not respond directly to Business Times queries on its opening. So did Kuala Lumpur Pavilion which did not answer any queries.
Both parties are expected to sign a collaboration agreement on October 18 2011, whereby information about the project will be revealed.
Based on "preliminary information" on the project dated May 2011, there will be 441 units of private residences, 51 units of serviced residences and 50 units of hotel.
The fact sheet on the web, which has not been verified by either party, indicates that some 490 units of residences are for sale at an average price of RM2,000 per sq ft. However, sources say almost all units have been sold.
Industry estimates tag the cost of construction, not including land cost, to be around RM800 million.
Pavilion and Banyan Tree's relationship in the project remains unclear.
Banyan Tree Holdings Ltd manages and develops premium resorts, hotels and spas in Asia Pacific. The group has ownership in niche resorts and hotels.
Singapore Stock Exchange-listed Banyan Tree Holdings website states that it is now involved in some 30 resorts and hotels, over 60 spas and 80 galleries, as well as three golf courses.
Source : Business Times
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