The five-star hotel wants to have a bigger share of the meetings business and the move will help fill rooms, garner better average room rate (ARR) and generate more income from food and beverage sales.
In the financial year to December 31 2007, the Singapore-owned and operated hotel chalked up RM45 million revenue, some 61 per cent of which came from its rooms and the rest from its food division.
"We expect revenue to in-crease between RM4.5 million and RM5 million, a good proportion coming from the additional room inventory," its recently appointed general manager Ian McKie told Business Times in an interview.
"We expect to close the year at 70 percent average occupancy and an ARR of RM285" Ian McKie General manager Parkroyal Kuala Lumpur
He added that the hotel's gross operating profit (GOP) is set to improve to RM17.5 million this year from RM13.5 million last year.
Last year, the hotel achieved an ARR of RM245 and an average occupancy of 78 per cent.
This year, the ARR is expected to improve although the average occupancy may fall slightly given the extra rooms. It now has 426 rooms.
"This year, having gone through the first four months, we expect to close the year at 70 per cent average occupancy and an ARR of RM285," McKie said.
The hotel is owned and managed by Parkroyal Hotels & Resorts Pte Ltd, a subsidiary of the Singapore-listed Hotel Plaza Ltd.
While the Parkroyal brand has been in Malaysia since 1989, Hotel Plaza came into the picture only in 2002 after the acquisition of the brand and hotel.
Late last year, Parkroyal Kuala Lumpur completed a RM16 million renovation to add the club floor and convert some of the office units into hotel rooms in the adjoining commercial building, President House.
By New Straits Times (by Vasantha Ganesan)
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