Wednesday, October 19, 2011

Banyan Tree Pavilion Kuala Lumpur

Pavilion presents

Banyan Tree - Signatures - 
Pavilion Kuala Lumpur

Hotel ~ Spa ~ Private Residences 

Banyan Tree Signatures Pavilion Kuala Lumpur

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Tel No 1800 22 8088

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.

While details remain sketchy, industry players and website searches have confirmed that a single 55-storey block will be built to house private residences, serviced residences and a hotel.

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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Tuesday, October 04, 2011

Malaysian hotel owners stall global foray

The owners and brands which have representation abroad continue to be the same players such as Holiday Villa Hotels & Resort, IGB Corp, Sunway, Berjaya, Genting Group and Impiana.

Kuala Lumpur: Over the past decade, there have been fewer number of new Malaysian hotel owners and operators expanding abroad.

With the exception of Tune Hotels, there are no new names venturing abroad and making a mark in a big way, said the President of the Malaysian Association of Hotel Owners (Maho) Datuk Seri Abdul Aziz Abdul Rahman.

He noted that the owners and brands which have representation abroad continue to be the same players such as Holiday Villa Hotels & Resort, IGB Corp Bhd, Sunway, Berjaya, Genting Group and Impiana.

For example, Holiday Villa owns/manages some 25 hotels here and abroad, while Sunway has hotels in Cambodia, Vietnam and China.

Meanwhile, Tune Hotels, which now has 10 hotels in Malaysia, Indonesia and the UK, has plans for 72 hotels overseas in the next five years.

Owning a hotel usually needs high capital expenditure but the returns could take even up to 10 years to recover, depending on the average room rate.

Abdul Aziz pointed out that growth can be deterred by the lack of connectivity into a destination.

He said that commercial decisions by airlines to cut destinations was not in the best interest of those who may have plans to expand.

Tune Hotel, he said, is a good example of how an airline plays an important role in a hotel operator's expansion.

Maho's executive director Shaharuddin M Saaid said that other factors which discourage brands from going abroad is the lack of confidence and expertise.

"Brand reputation and acceptance is vital for overseas operation which not many local hotel management companies have," he said, citing the need for a strong networking and customer base when venturing abroad

Shaharuddin feels local players would be more encouraged to move in the foreign realm, should there be an assurance or availability of attractive investment policies, financing facilities, high yield and good return on investment.

And it is rare, although not unheard of, for a player to move and build a brand abroad without first establishing a brand here. But, sometimes, growing in Malaysia too can be challenging.

Source : Business Times
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