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Thursday, October 27, 2011

Kosmopolito to launch five hotels

Expansion plan: Kosmopolito inte nds to develop service apartments on a site near the Dorsett Regency Kuala Lumpur.

KUALA LUMPUR: Kosmopolito Hotels International Ltd (KHI), which has 17 hotels primarily in Asia, has at least five ongoing projects in Malaysia that it plans to launch within the next 12 to 24 months.

KHI vice-chairman Datin Jasmine Abdullah Heng said the company was also looking for land in Malaysia to set up either hotels or serviced apartments.

“We would have more (than five projects) in the pipeline if we can secure the land,” she told StarBiz during a donation ceremony and visit to the National Heart Institute (IJN) on Tuesday.

Its ongoing Malaysian projects include the renovation of Phoenix Plaza in Cheras and the renovation of the Sri Jati serviced apartments in Kuala Lumpur into a hotel cum service apartments.

Jasmine also said KHI intended to develop service apartments on a site near the Dorsett Regency Kuala Lumpur.

“We also plan to launch service apartments within the Grand Dorsett Subang area by year-end and (also) have an on-going project in Sri Hartamas (in Kuala Lumpur),” she said.

“We are also looking at potential projects in Kota Kinabalu (Sabah), Penang, Langkawi, Kuantan (Pahang) and Malacca. We're aggressive on our expansion plans,” she added.

KHI, a subsidiary of Far East Consortium International Ltd (FEC), was set up in January 2007 and listed on the Hong Kong Stock Exchange in October 2010.

The company owns and manages four key hotel brands in different market segments Boutique Series by Kosmopolito, Grand Dorsett, Dorsett Regency Hotels & Resorts, and Silka Hotels, which can be found in Hong Kong, Shanghai, Chengdu, Wuhan, Singapore, Malaysia and London.

On the local front, KHI's properties are the Grand Dorsett Subang, Dorsett Regency Kuala Lumpur, Grand Dorsett Labuan, Silka Hotel Johor Bahru, Maytower Hotel & Serviced Residences Kuala Lumpur and Damas Suites & Residences Kuala Lumpur.

Jasmine declined to comment on an old report that FEC was planning on a real estate investment trust (REIT) listing that would include the Malaysian properties.

Meanwhile, KHI on Tuesday donated RM6,000 to IJN as part of the former's corporate social responsibility initiative. Earlier this year, the National Heart Institute received a donation amounting RM30,000 from KHI.

Chiu will be elected president of the company effective Nov 1

KHI executive director Winnie Chiu, who will be elected president of the company effective Nov 1, said: “We are committed to this good cause. We're supportive of this and will continue to support (IJN) going forward.”

By The Star

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