Malaysian-based Sunway Group Invests USD218.75 Million to Boost Hospitality Unit

April 4, 2016

Malaysian-based Sunway Group Invests USD218.75 Million to Boost Hospitality Unit

KUALA LUMPUR, March 31, 2016 — Sunway Hotels & Resorts, the hospitality division of Malaysian-based property-construction conglomerate Sunway Group, today, announced an investment of USD218.75 million (RM875 million) to facilitate a three-year redevelopment and expansion plan to its collection of hotels across Malaysia, Cambodia and Vietnam; commencing 2016, with completion targeted for the second quarter of 2018.

The investment includes the addition of two new investment assets to the hospitality division’s growing portfolio — the 401-room, 4-star Sunway Pyramid Hotel West within an integrated development in Sunway Resort City with a gross development cost of USD95 million ( RM380 million ) which was opened on 19 February 2016 ; and the new 4-star 351-room, USD37.5 ( RM150 million ) Sunway Velocity Hotel in Kuala Lumpur East, slated for opening in the third quarter of 2017.

In addition, six of the hospitality division’s existing assets will undergo enhancement works. This includes an investment of USD31.25 million (RM125 million) for a major refurbishment of the 4-star 549-room Sunway Pyramid Hotel East, located in Kuala Lumpur’s Sunway Resort City. Other properties to undergo refurbishment and expansion works in the next two years include the 5-star 439-room Sunway Resort Hotel & Spa; the 145,000 sq. ft. Sunway Pyramid Convention Centre; the 5-star 25-villa at The Banjaran Hotsprings Retreat in Ipoh, Perak; the 4-star 138-room Sunway Hotel Phnom Penh in Cambodia; and the 4-star 145-room Sunway Hotel Hanoi in Vietnam.

Sarena Cheah, Managing Director, Property Division — Malaysia and Singapore said, “This substantial reinvestment is the largest expansion plan for Sunway Group’s hospitality division in recent years. We are looking to support the region’s increasingly robust business exchange, corporate travel and leisure tourist markets.”

“The hospitality division will have about 3,500 rooms in Southeast Asia with approximately 3,200 rooms located in Malaysia by 2018 — where 80% of these are within our integrated townships and mixed developments in Malaysia which will support Malaysia’s tourism industry by ensuring exceptional experiences for visitors while at the same time ensuring the sustainable growth of these townships for our stakeholders.”

Artist Impression of Sunway Pyramid Hotel East’s new Family Room

Upon the completion of all expansion plans in 2018, the Sunway Group will own and operate a total of 11 hotels – Sunway Pyramid Hotel West, Sunway Resort Hotel & Spa and Sunway Pyramid Hotel East are in its integrated flagship township of Sunway Resort City, located just 25 minutes from the Kuala Lumpur city centre, which welcomes more than 42 million visitations yearly, Sunway Velocity Hotel and Sunway Putra Hotel in Kuala Lumpur, Sunway Hotel Seberang Jaya and Sunway Hotel Georgetown in Penang , Sunway Lost World Hotel and The Banjaran Hotsprings Retreat in Perak , Sunway Hotel Phnom Penh in Cambodia and Sunway Hotel Hanoi in Vietnam .

Albert Cheong, CEO and Group General Manager of Sunway Hotels & Resorts said, “Reinvention and innovation of our businesses has been core principal of the Group, and we are pleased to continue developing the type of engaging products and services that our guests and business partners have come to anticipate and expect. The hospitality division has drawn on substantive data and consumer insights for the preparation of the refurbishment and upgrading programmes.”

Designed to attract the highly valued corporate and leisure traveller from around the region, the concepts and inspirations for the new Sunway Pyramid Hotel East were a result of months of customer focus groups, data insights and design simulations in realizing a more functional and efficient design. Richness of colour soars with refreshing colour palette of red, orange, yellow, white, silver and brown hues used dramatically on feature wall panels and coverings that blends natural design textures with natural granite and wood veneer wall panels using new modern technology material like composite fiber column cladding, perforated metal plate with lit-acrylic panels, wood lattice finishes, glass with decorative film as wall finishing. Designed by Sunway Design Sdn. Bhd., the renovation will include a complete transformation of the hotel’s driveway, main lobby, food and beverage kiosk area, lift landings, guest floor corridors, guestrooms, bathrooms and back of house spaces.

Opened in July 2004 as Pyramid Tower Hotel, the Sunway Pyramid Hotel East’s large-scale refurbishment aligns to the divisional strategy in meeting the increased demand for higher quality accommodations as business and leisure travel to the integrated destination of Sunway Resort City continues to grow.

“Hotels are central to complementing our township and integrated developments across Malaysia to unlock greater value for our stakeholders especially discerning customers and tourists who are looking for more holistic offerings in any destination,” Sarena Cheah added.