Two existing hotels undergoing RM50m refurbishment
By PAULINE NG
IN KUALA LUMPUR
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HOSPITALITY and property company GuocoLand Malaysia is bringing the Thistle brand to Asia, kicking off with Malaysia where it hopes that the established name and a RM50 million (S$20.8 million) refurbishment exercise to two existing hotels would boost its earnings.
Although long established in the United Kingdom, Thistle Hotels does not have a presence in Asia. Malaysia - and later China - was a logical place to start given that Thistle Hotels and the two hotels are owned by GuocoLand, company executives said yesterday.
By the middle of the year, two hotels - formerly the Hyatt Johor Bahru and Guoman PD - would be reopened as Thistle hotels, the near one-year closure for refurbishment works to ensure that they meet five-star standards.
The average occupancy rate for the Hyatt JB was about half and for Guoman PD, which is in Negri Sembilan, about a third.
At a media briefing yesterday, GuocoLand Malaysia managing director Paul Poh said that Thistle Hotels aimed to boost the occupancy at the hotels to about 70 and 65 per cent respectively - more in line with the national average - and to increase the hotels' contribution to group profit to about 40 per cent from 30 per cent currently.
For the nine months ended March, the listed company made a profit of nearly RM6 million although it posted a loss of RM3.4 million for the third quarter.
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Mr Poh said that he expects to recoup the amount invested in refurbishing the hotels in four to five years.
'We are not worried about the economic situation so long as we offer a good product,' said Thistle JB general manager Philip Skitch.
There are plans for a third Thistle Hotel - a 250-room property in Kuala Lumpur. But it is expected only in 2011-12, and would be built in the suburb of Damansara Heights as part of GuocoLand's mixed development project.
Mr Poh said that there were no immediate plans for a Thistle hotel in Singapore. In China, the company is looking at a hotel each in Shanghai and Beijing.
Business at Thistle's 34 hotels in the UK was 'down a bit', Mr Skitch said, 'but not doing as bad as some of the other industries', adding that more Americans were travelling to the UK owing to the weaker British pound.
In a statement, Guoman Hotels Asia regional director Ian Jones said that the 251-room PD hotel aimed to attract leisure and meetings, incentives, conventions and exhibitions (MICE) travellers while the 381-room JB hotel would capitalise on its location next to Singapore and cater primarily to the business community.
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