Investing in short-term rental properties in Malaysia

Visit Malaysia Year 2014 campaign has officially started on New Year’s Day. In Kuala Lumpur alone, Kuala Lumpur City Hall (DBKL) is anticipating 15 million tourists to visit the country’s capital this year. The campaign offers a great business prospects for Malaysians who have interest in participating in the tourism industry.

Amongst the many lucrative business opportunities available for Malaysians during the campaign period is vacation rental services, which is also known as short term rental tenancy. The tenancy can provide a meaningful income for home owners who opt to not open their homes for long term rental tenancy during this time.

Over the last few years, short term rentals in Malaysia have been making waves in the vacation accommodation preference. On iBilik alone, there are over 5,000 short term rental listings available in locations all over Malaysia.

People like the option of renting accommodations with full house facilities, such as kitchenette, laundry machines and big spaces for their travelling. The choice is extremely popular especially when travelling in large parties.

Opting for short term rental is a popular choice among Malaysians who frequently have to travel for business, holiday trips with families and wedding party trips.

Fikri Aidil has been using short term rentals for a couple of years. “It’s convenient not to have to the groups separated in different hotel rooms and having to eat out throughout the trip. Most of the time, it saves money as well,” he comments.

To start a short term rental business, one can visit Propwall to survey the estimated property prices in the area. For example, a property on auction at the D’Savoy Condominium, A’ Famosa Resort starts from RM130,000. From there, one can estimate the cost of mortgage, repairs and insurance the property will require.

Thereafter, the prospective buyer may cross reference the information of the property with the estimated rental yield from the short term rental business that he will obtain. On iBilik, it shows that the average rental rate of the D’Savoy Condominium ranges from RM200 to RM350 per night.

All the information at hand in must be keyed in to a spreadsheet, with a guesstimate of different scenarios one might encounter regarding vacancy (or lack thereof), maintenance and repair cost. From this, it can be gauged whether the short term rental investment is still a worthy endeavour.

Part of the investment also includes providing an adequate amount of furniture and electrical appliances. Guests are more attracted to fully furnished units that are well presented. As most of the bookings are done online with only pictures to judge the quality of the units, the need to have professional photos taken from good angles is crucial.

Although the short term rental business is not yet regulated in the country, it is better to register the business with Inland Revenue Board of Malaysia (LHDN) to avoid any tax complications in the future.

Source: http://www.thestar.com.my

first Citadines project in Malaysia

Global service residence owner and operator The Ascott Limited (Ascott) has officially launched its 215-unit Citadines Uplands Kuching yesterday, which marks its maiden Citadines project in Malaysia.
The project is Ascott’s 17th Citadines property to open in Asia Pacific since the introduction of the brand from Europe to the region in 2006.
The opening, which was officiated by Minister of Housing and Tourism, Datuk Amar Abang Johari Tun Openg, marked the strengthening of Ascott’s position as the largest international serviced residence owner-operator in Malaysia with over 1,800 apartment units.
Tan Boon Khai, Ascott’s regional general manager for Singapore and Malaysia, said: “We see tremendous potential in bringing Citadines to Malaysia. It complements our existing Ascott- and Somerset-branded serviced residences and enables us to cater to a wider segment of customers.
“In Kuching, Citadines Uplands will appeal to the increasing MICE (meetings, incentives, conventions and exhibitions) travellers,
project groups from nearby companies and government offices, as well as student groups and visiting professors from the universities located around the property.”
Today, Citadines has 33,000 apartment units in over 80 cities in Asia Pacific, Europe and the Gulf region.
Tan further highlighted Ascott’s presence in Kuching which started 13 years ago via Somerset Gateway. This project, which was managed by Ascott from 2001 to 2011, has convinced the group that Kuching is a strategic point in the company’s expansion plan.
To note, the company operates three brands – Ascott, Citadines and Somerset – whereby each brand caters to different market niches.
The group’s portfolio through these three brands spans across 82 cities over 20 countries, 21 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.
“Besides Citadines Uplands Kuching, Ascott will also open Ascott Sentral Kuala Lumpur, Citadines D’Pulze Cyberjaya and Somerset Puteri Harbour Iskandar in 2014; Somerset
Medini Iskandar in end 2015 and Somerset Damansara Uptown Petaling Jaya in 2016.”
Since its soft launch in March this year, Citadines Uplands Kuching has garnered many favourable reviews from its residents.

Lanson Place Bukit Ceylon Serviced Residences in Kuala Lumpur

LANSON Place Hospitality Management Ltd, a Hong Kong-based hospitality investment and management brand, recently launched Lanson Place Bukit Ceylon Serviced Residences in Kuala Lumpur.

Lanson Place Serviced Residences is a hidden gem that lies in the tranquil, and strategically-located, Bukit Ceylon area.

The new flagship property is also the first “Small Luxury Hotels of the World” property in the central business district.

Lanson Place boasts unparalleled elegance and impeccable furnishing in each residence with a total of 150 spacious one to three-bedroom serviced residences available, ranging from 85 sq m to 191 sq m.

Each residence features elegant interiors with exclusive views of the city, a work area with modern amenities including wireless Internet, iPod docking station, 30 TV channels with entertainment network plus DVD player and a fully-equipped kitchen.

Designed by renowned Japanese designer Koichiro Ikebuchi of Atelier Mura Proprietary Limited, Lanson Place’s modern and stylish residences will be fully fitted with top of the line amenities and equipment. Within the property, extensive glazing ensures that the interior will be bathed in natural sunlight, creating a sense of space.

“Lanson Place Bukit Ceylon Serviced Residences symbolises the epitome of luxury and sophisticated living without compromising residential comfort and service,” said Lanson Place Bukit Ceylon regional general manager Anson Chan.

Other facilities and amenities available in the property are a fully-equipped gymnasium, library, outdoor barbecue area, Internet centre and billiard area.

There is also a dazzling sky lounge called 163 Lounge where residents can unwind while enjoying breath-taking views of KL Tower and the Petronas Twin Towers. Families can also enjoy bonding with their loved ones in the 163 Garden on the 50th floor.

Lanson Place Bukit Ceylon Serviced Residences welcomed its first guests on Aug 1 with Rob Kamphuis and family from the Netherlands as well as Stefano Strada and friends from Italy checked in to a warm welcome from Chan and his colleagues.

Singapore-based developer Sim Lian Group Ltd has launched the second portion of its maiden project KL Trillion – a block of luxury serviced residences located along Jalan Tun Razak.

The 39-storey apartment will be one of two identical residential towers which have a combined gross development value of RM864mil. There will be 168 units of apartment in each block in eight different configurations.

Sim Lian has not launched the second block but estimated that construction of both residential towers would be completed by end-2015. The company’s subsidiary, Perumahan SLG Central Sdn Bhd, will be overseeing the construction of both towers.

Perumahan SLG director George Wan said the company had decided to hold on to the other block as it gauged buyers’ interest in the first block.

“The launch of the other block will depend on the take-up of this block,” he said at the launch. “We are also considering whether to get a hospitality company to operate the other block.”

Since the preview in Singapore at the end of May, the company has sold about 15% of the semi-furnished apartments.

KL Trillion serviced apartments are priced from RM1,071 to above RM1,800 per sq ft before discount. With a discount and under the developer interest-bearing scheme, the apartment prices start at RM965 per sq ft.

The fully-facilitated residences will have a selection of two to four-bedroom apartments and duplex penthouse units. The built-up areas range from 963 sq ft to 6,274 sq ft.

“In Kuala Lumpur, we are expecting to receive the same overwhelming response from Malaysians and foreign investors,” Wan said.

Wan believed that Kuala Lumpur property prices were affordable compared with other Asian cities. “Here, it’s very competitive. Even in Myanmar, they are already selling higher in US dollars, what more Hong Kong or Singapore.

“There is a possibility that if you spread it through time, the development will sell,” he said.

Sim Lian first launched KL Trillion’s 33-storey Grade A office suite in 2011, with more than 70% sold on a strata basis. The Green Building Index-compliant office has been equally taken up by Singaporean and Malaysian companies, with a handful of foreign corporations.

Besides the residential and office elements of the project, there will also be a five-level retail podium.

Wan said the company was already in talks with branded retailers to lease the shops out.

“We want to retain a certain image for the development and the residents, so we’re looking for good brands to bring in,” he said.

Save for KL Trillion as well as completed and ongoing projects in Johor, the company has no other landbank in Malaysia at the moment.

“We intend to acquire more land in Malaysia. Kuala Lumpur is always a good choice but we’re open to opportunities in Penang and Iskandar Malaysia, which is all the rage with Singaporeans now,” construction subsidiary SLC (M) Sdn Bhd director Lau Cheng Piw said.

Sim Lian’s first venture in the country was in 2005, when the company launched landed residential developments in Johor. In the same year, the company purchased the 4.452-acre parcel of land next to what is now The Intermark from Berjaya Corp Bhd to build KL Trillion.

Source : http://www.thestar.com.my/

Ascott Opens First Citadines Serviced Residences In Indonesia And Malaysia

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded its international network of Citadines-branded serviced residences with the opening of the first Citadines properties in Indonesia and Malaysia. With the 153-unit Citadines Rasuna in Jakarta and 215-unit Citadines Uplands in Kuching, Ascott has a total of 59 Citadines properties in operation across 31 cities in Asia Pacific and Europe.

Mr Chong Kee Hiong, Ascott’s Chief Executive Officer, said: “Ascott acquired the Citadines chain of apart’hotels in Europe in 2002 and brought the brand to Asia Pacific in 2006. We have increasingly been getting requests from property owners for the brand, due to its popularity amongst savvy independent travellers. These travellers value urban living in prime locations and the flexibility to choose the services they require to personalise their stay experience. To cater to the demand, we will be opening 13 more Citadines in China, India, Indonesia, Malaysia, the Philippines and Germany by 2015.”

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia, said: “Citadines Rasuna Jakarta and Citadines Uplands Kuching complement our existing Ascott and Somerset serviced residences in Indonesia and Malaysia, allowing us to reach out to a wider segment of customers. They also reinforce Ascott’s position as the largest international serviced residence owner-operator with 10 properties in each of these countries. This positions us for stronger growth in Indonesia and Malaysia, where demand for serviced residences continue to rise on the back of strong economic fundamentals and high foreign direct investments.”

Citadines Uplands in Kuching

Catering to expatriates, business and medical travellers, Citadines Rasuna Jakarta is strategically located in the city’s central business district, next to the Metropolitan Medical Centre. Within walking distance are embassies and office towers housing multinational companies such as PricewaterhouseCoopers, Rabobank and Petrochina. The serviced residence is also near retail and entertainment centres including Plaza Festival, Rasuna Epicentrum, Kota Kasablanka and Kuningan City Mall, offering residents a host of conveniences.

Citadines Rasuna Jakarta is part of a stylish 30-storey integrated development known as The H Tower that comprises offices, specialist clinics and premier medical care facilities. Residents can enjoy privacy as the serviced residence maintains its own distinct lobby and facilities.

Each of the studio, one- and two-bedroom apartments in Citadines Rasuna Jakarta provides a comfortable and homely environment with a fully-equipped kitchen, separate dining and living areas as well as modern amenities such as complimentary Internet access, home entertainment system with DVD player and flat-screen television with cable channels. The apartments are also designed to reflect a local touch, with artworks, carpets and fabrics influenced by traditional Indonesian batik designs.

Residents of Citadines Rasuna Jakarta can workout at the fitness corner or swim at the pool while overlooking the Jakarta skyline from the 21st floor of the property. Other facilities include a jacuzzi and sauna room, business corner, launderette, café and restaurant serving French and Indonesian cuisines. The serviced residence also offers 24-hour reception and security, housekeeping and business centre services as well as residents’ programmes to help guests settle comfortably into their new home.

Citadines Uplands Kuching

Citadines Uplands Kuching enjoys a prime location in Jalan Simpang Tiga – a hub for education and local federal government administration. The property is a 15-minute drive from the Kuching International Airport, Borneo Convention Centre and Samajaya Free Industrial Zone housing many multinational and local companies. It is also opposite one of the largest shopping malls in East Malaysia, The Spring Shopping Centre. Furthermore, Citadines Uplands Kuching is part of an integrated development known as ST3, which encompasses a shopping mall that will have over 200 retail outlets.

Citadines Uplands Kuching caters to the city’s growing Meetings, Incentives, Conventions and Exhibitions groups, executives on project assignments from the nearby companies and government offices, as well as student groups and visiting professors from universities located around the property.

The serviced residence offers a range of studios to two-bedroom units. Residents have ample space to live, work and entertain as each apartment comes with a fully-equipped kitchen, separate dining and living areas complete with home entertainment system and Internet access. The property also offers a suite of facilities including a swimming pool, children’s wading pool, gymnasium, residents’ lounge, launderette and meeting room.

Besides round-the-clock reception and security, housekeeping service and residents’ programmes, residents can personalise their stay at Citadines Uplands Kuching with the flexible menu of optional services including courier, babysitting, laundry and dry cleaning.

New Properties To Open In Indonesia And Malaysia

In Indonesia, besides Citadines Rasuna Jakarta, Ascott will open Ascott Kuningan Jakarta later this year, Ascott Waterplace Surabaya and Somerset Kencana Jakarta in 2014 as well as Citadines Marvell Surabaya in 2015. Ascott currently manages Ascott Jakarta, Somerset Berlian Jakarta, Somerset Grand Citra Jakarta, Somerset Surabaya Hotel & Serviced Residence and Countrywoods Residences in Jakarta.

In Malaysia, besides Citadines Uplands Kuching, Ascott will open Ascott Sentral Kuala Lumpur this year, Citadines D’Pulze Cyberjaya and Somerset Puteri Harbour Iskandar in 2014, Somerset Medini Iskandar in 2015 and Somerset Damansara Uptown Petaling Jaya in 2016. Ascott currently operates Ascott Kuala Lumpur, Somerset Ampang Kuala Lumpur, Seri Bukit Ceylon Residences and Marc Service Suites in Kuala Lumpur.

All Articles from The Ascott Limited

Ascott opens first Citadines in Malaysia

The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence business unit, has opened its first Citadines-branded property in Malaysia.

Citadines Uplands Kuching (pictured) in Sarawak comprises 215 stylish apartments ranging from studios to two-bedroom units that come with living rooms featuring modern appliances and Internet access, dining areas and full-equipped kitchens.

Facilities include swimming pools, a gymnasium, laundrette, meeting room and residents’ lounge.

Ideally located along Jalan Simpang Tiga in the city centre, it is within close proximity to educational, commercial, medical and transport facilities.

Residents will also enjoy optional services like babysitting, courier, laundry and dry cleaning services. There is also a 24-hour reception, housekeeping, round-the-clock security and a programme to help newcomers feel more at home.

The property is the 17th of its kind across Asia Pacific and is expected to strengthen Ascott’s position as the largest international serviced residence owner-operator in Malaysia with over 1,800 apartments across 10 properties.

“We see tremendous potential in bringing Citadines to Malaysia. It complements our existing Ascott- and Somerset-branded serviced residences and enables us to cater to a wider segment of customers,” said Tan Boon Khai, Ascott’s Regional General Manager for Singapore and Malaysia.

Meanwhile, Ascott plans to open five more properties in the country over the next few years. “As Malaysia attracts more business travellers through its Economic Transformation Programme, demand for serviced residences will continue to grow. We will continue to look for opportunities to deepen our presence in Malaysia,” Tan added.

source : http://www.propertyguru.com.sg

Frasers Hospitality to expand Capri brand

Frasers Hospitality has confirmed plans to expand its new Capri by Fraser brand into Malaysia and Vietnam.

The contemporary serviced apartment brand was first unveiled in May last year, and the first property, the Capri by Fraser Changi City in Singapore, opened its doors in September 2012. Now the company is planning to add two more Capri properties in 2013; the 126-apartment Capri by Fraser Ho Chi Minh City, which will open in March, and the 240-apartment Capri by Fraser Kuala Lumpur in November. The company said it is also in the process of finalising more Capri by Fraser properties in Asia Pacific and Europe.

“The positive international response that Capri by Fraser has generated within a relatively short span of time is a strong indication that there is a demand for a hotel residence brand that is well positioned to meet the 24-7 work-life balance needs of the rapidly growing e-generation market sector,” said Choe Peng Sum, CEO of Frasers Hospitality. “We are very excited with this response and it is very much our plan to explore the growth potential of this brand internationally throughout Asia and beyond.”

The Capri by Fraser brand targets younger, tech-savvy travellers, with facilities including free high-speed Wi-Fi, high-tech conference rooms, laundrettes with games consoles and iPad check-ins. Frasers revealed that the Capri by Fraser Changi City has experienced average occupancy levels of more than 80% since it soft opened in September.

Source : http://www.traveldailymedia.com

E&O brand expands to serviced apartment industry

Property developer Eastern & Oriental Bhd (E&O), well known for its hotel services in Penang, has expanded its luxury hospitality brand to include the serviced apartment industry with the inauguration of its first serviced apartments here in December last year.

Dubbed “E&O Residences Kuala Lumpur”, the serviced apartments are sited within its high-end St Mary Residences development off Jalan Sultan Ismail, Kuala Lumpur, occupying one of the three towers.

E&O deputy managing director Eric Chan Kok Leong said the serviced apartments are an extension of the group’s expertise in hospitality management honed from its years of experience in running the heritage Eastern & Oriental Hotel and Lone Pine Hotel in Penang.

“The extension into serviced residence management represents yet another vital pillar in the cachet of lifestyle elements that collectively make E&O a true luxury lifestyle (property) developer,” he told SunBiz in an email interview.

Chan declined to disclose the contribution expected from its serviced apartment business to E&O Group’s revenue, saying it’s still early days for E&O Residences with its official opening only targeted for early this year.

“Once established in the market, we expect the E&O Residences to generate healthy revenue and boost the overall contribution of our hospitality segment.

“Notwithstanding this, E&O is at its core a lifestyle property developer. Our businesses like the E&O Residences showcase how we infuse complementary lifestyle elements and experiences into our portfolio of properties,” he added.

On other potential serviced apartment projects, Chan said the group will allow for the E&O Residences to take off first but remains “open to future opportunities in this area”.

“We anticipate that with the unfolding of the Economic Transformation Plan and the Greater Kuala Lumpur initiatives, there will be more opportunities in the city which will in turn attract more business professionals and expatriates to fuel the demand for serviced residences.

“We anticipate that this discerning crowd will want higher quality and more exclusive accommodation, a niche that the E&O’s five-star standard serviced residences is well prepared to cater for,” said Chan.

Targeting the global business or leisure traveller on an extended stay as well as short term stay in Kuala Lumpur, E&O Residences has 200 one- and two-bedroom apartments covering 250,000 sq ft of net lettable area, built with an investment of RM350 million.

“Kuala Lumpur is a vibrant city and based on the growing demand for five-star accommodation we are confident that this investment, which is long-term in nature, will provide returns consistent with the industry norm of 10-15 years,” said Chan.

Well aware of the existing competition in the market, E&O Residences sets itself apart from other serviced apartments in the area by its heritage.

“We are the first service residence to share the name and pedigree of the legendary Eastern & Oriental Hotel, Penang. You can expect to enjoy the same immaculate attention to detail and personal care afforded by E&O’s hospitality and concierge service,” said Chan.

“Our rates are in line with the current market leader with rack rates starting at RM980++ for the one-bedroom unit and RM1,580++ for the two-bedroom.”

In conjunction with its opening, the group is offering special introductory daily rates of RM490.00++ for the one-bedroom and RM790.00++ for the two-bedroom while the monthly rate is RM 11,688++ for the one-bedroom and RM14,688++ for the two-bedroom.

Meanwhile, adjoining the St Mary development is the St Mary Place retail annexe. Presently, the Delicious Café has begun operations there. Other confirmed tenants include an established coffee outlet, an art gallery cum café, a fine dining sushi bar, a laundry, beauty salon and a foot reflexology outlet.

 

Source http://www.thesundaily.my

More pull from serviced apartments (in Malaysia)

The serviced apartments industry, which is part of the hospitality sector, is expected to have a greater profile with more players entering the industry and the expansion of seasoned players.

Market leader The Ascott Ltd is on an expansion drive which will go on until 2016. Hotel operators are also tapping into the serviced apartment sub-segment of the hospitality industry, offering guests the option of staying in a hotel or a serviced apartment.

The Ascott group is currently the market leader in the industry in terms of inventory. They account for about 20% of the total 2,500 units in the country. The group is currently undertaking a refurbishment programme to spruce up accommodation facilities.

The growth in the serviced apartment industry is due to greater demand as a result of the various large-scale constructions being undertaken by the Government like the Tun Razak Exchange, the My Rapid Transport (MRT) rail project and the latest developments in the oil and gas sector, industry players say.

Says country general manager Tony Ho: “Foreign direct investments are on the uptrend. Large-scale constructions in the form of Tun Razak Exchange and new developments in the oil and gas sector mean new construction teams will be coming in. The last two years have also seen a growth in tourism. This means long-term staying guests are expected to increase.”

The Ascott group will be increasing its current 573 units to 1,600 units by 2015/2016, about 180% more units offered by the group. The Ascott has three brands in its stable, namely The Ascott, Somerset and Citadines, each of them targeted at different markets.

The Ascott brand is targeted at senior management, Somerset for mid-management and business executives and Citadines’ guest profile is the independent and tech savy traveller. Between 70% and 80% of its guests are from the oil and gas sector.

“While the hotel industry attract guests who stay between three and four nights, those who opt for serviced apartments may stay for more than a year,” he says.

Artist impression of Ascott at KL Sentral scheduled to open next year.
The serviced apartment propostion offers cooking facilities and families have an option of having a suite comprising two or more rooms.

There are currently about 2,500 pure-play serviced apartments in the country and include the likes of PNB’s Darby Park, Wing Tai’s Lanson Place, Fraser Place, Micasa Suites, Park Royals’ One Residency, Pacific Regency All Suites Hotel, Garden Residences and Prince Hotel and Residences.

The Singapore-based hospitality player has also invested about RM30mil in refurbishment of The Ascott in Jalan Pinang. This is scheduled to be completed by the middle of next year. A second Ascott will be opening in the third quarter of next year in KL Sentral. Ascott is a wholly-owned subsidiary of CapitaLand Ltd, one of Asia’s largest real estate companies.

Ho: ‘Those who opt for serviced apartments may stay for more than a year.’
Its first Citadine will be opening in Kuching this month and its second Citadine will be opening in Cyberjaya by end-2014 or 2015, Ho says.

It will also be expanding its Somerset brand to include a third Somerset Puteri Harbour in the first quarter of 2014. The group currently has Somerset Ampang and Somerset Seri Bukit Ceylon. A fourth Somerset is scheduled to be opened in Damasara Uptown by 2015 or 2016.

Other than Somerset Ampang which is 100% owned by Ascott, the group owns 50% of the Ascott in Jalan Pinang and Somerset Bukit Ceylon, Ho says, adding that the company will be managing and operating the new premises and will not own them.

The Eastern & Oriental (E&O) group has also opened its first serviced residences at its St Mary Residences development in the city. Although it is no newcomer in the hospitality industry it owns and operates Lone Pine Hotel and the E&O Hotel in Penang E&O Residences will be the group’s first serviced residences.

Says Jamie Case, chief operating officer of Eastern & Oriental Hotel Management in an email: “For the E&O group, this will be an extension of the group’s expertise in hospitality management.”

“The additional capacity is in tandem with the growing demand for serviced residences,” Case says.

“With the unfolding of the Economic Transformation Projects and the Greater KL initiatives, there will be more opportunities in the city which will in turn attract more business professionals and expatriates to fuel the demand for such accommodation,” he says.

The Synod of the Diocese of West Malaysia or the Anglican Church owns the land where the St Mary Residences development is sited. The Synod then selected E&O, through an international tender process conducted by property consultants DTZ Nawawi Tie Leung to operate the 200-unit serviced residences.

“We are targeting 60% occupancy in the first year,” says Case, adding that E&O’s target audience includes both global business and leisure travellers on an extended stay in the city.

The serviced apartment concept also seems to getting popular in Malacca. Swiss-Garden International Hotels, Resorts & Inns recently launched The Shore in Malacca, which combines both a hotel and service apartments. These serviced apartments are open for sale to the public and hotel operator will manage them on behalf of the owners in renting them out.

Hospitality trend has evolved over the past decade “with an increasing demand for serviced apartments from both the leisure and business segment.” She says this trend of combining a hotel and service apartments is expected to continue in key cities because leisure travelers are now opting for accommodation that provides spacious homely comfort while business travellers are seeking space, privacy and modern facilities yet complemented with refined hotel services.

A strong factor pushing hotel operators to offer the serviced apartment proposition is the profit margin, which is 50% compared to a hotel’s 35%.

The average rate for a four-star hotel in Kuala Lumpur is RM250++ and for a service apartment in Kuala Lumpur is RM330++. In Malacca the average rate for a four-star hotel is about RM200++ and for a serviced apartment is RM250++.

Source : thestar.com.my

The Gurney Resort Hotel & Residences is located at the famous Gurney Drive, Penang

Comprising 259 studio suites and two-bedroom suites, the hotel offers leisure and business travellers a comprehensive range of recreational and business facilities for the ultimate stay.

The hotel is located at the renowned tourist belt of Gurney Drive, adjacent to the new central business district and less than five minutes away from major shopping complexes.
It is 25km away from Penang International Airport, approximately 20 minutes by road.
Providing cosy yet homey accommodation, The Gurney’s 259 suites, comprising 201 studio suites, 56 two-bedroom suites and 2 presidential suites. The suites are equipped with modern amenities ranging from a dining area, satellite television, high-speed Internet connections and jacuzzi.
The Grand Ballroom on the third floor offers 750 sq metres of function space. The ballroom can accommodate 600 banquet guests with a panoramic sea view of the Straits of Malacca. It is also the ultimate venue for memorable weddings, offering attractive packages for the newlyweds.

For smaller events, the function hall on the second floor can cater to 350 guests, theatre-style.
Located on the first floor, the Coffee House provides a relaxing atmosphere with a scenic view of Gurney Drive. A wide array of international, fusion and local flavours are available including delectable à la carte menu and a hearty buffet spread.
The Recreation Park on the seventh floor offers a range of activities with its elevated sand-themed park and water activities from infinity pool, children wave pool and water slides. For the active ones, participate in a game of beach volleyball, table tennis or simply enjoy a game of darts and pool.

Rejuvenate your senses and pamper yourself with the art of ancient Balinese massage at the Samsara Spa. Professional therapists will knead your stress away with healing and soothing traditional treatments.
Swiss-Garden International Hotels, Resorts & Inns currently manages and operates 12 hotels, resorts and serviced apartments in prime locations in Malaysia and Australia with an inventory of 2,500 rooms. The diversified portfolio of Swiss-Garden International as an established hospitality group is reflected in its achievement of premier product and service delivery garnering various awards and accolades.

Swiss-Garden International will also be adding five more properties to its current portfolio, namely the Swiss-Garden Hotel Melaka, Swiss-Garden Hotel & Residences Cameron Highlands, D’Majestic serviced apartments in Jalan Pudu, Kuala Lumpur, a serviced apartment in Kuantan and a hotel in Kota Baru, adding the total number of hotels and serviced apartments to 17.
Completion of the latter is expected within the next three years and the group’s room inventory will increase by approximately 70 per cent.

Source : New Straits Times http://www.nst.com.my