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Thursday, August 12, 2010

WCT aims to add 2 hotels to portfolio by 2014

WCT Bhd, a leading construction and property development company, plans to own and manage two hotels within the next four years.
It will open its maiden hotel in Klang, Selangor, under the Première brand name on October 10.

The hotel is part of the RM145 million BBT-One Tower and the Boulevard project developed by WCT.

BBT Hotel Sdn Bhd director Eddie Tan said Première, the newest addition to the WCT portfolio, will be one of the main contributors to its hospitality division.

BBT Hotel, known as Smart Seasons Sdn Bhd until September 2006, is a subsidiary of WCT.

“We have found an opportunity to leverage on our expertise and apply it to the hospitality industry,” Tan said, adding that the hotel will be an ideal destination for business visitors and tourists.

The business-class hotel offers 250 rooms, including suites, in a 22-storey tower.

“We expect to achieve an occupancy rate of 60 per cent with an average room rate of RM170,” Tan said.

Premiere Hotel was built at a cost of RM75 million and was financed with internal funds and borrowings.

WCT is also planning to open Platinum Plaza Hotel in Ho Chi Minh City, Vietnam.

It will be part of the Platinum Plaza mixed commercial development comprising a shopping mall, two office blocks of 22 storeys each and small office units. The total development area is 7.2 million sq ft.

Gross development value of the proposed development is RM1 billion. The project will be developed in three phases over a four-year period.

By Business Times

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