The 198-room hotel, to be built at an estimated cost of RM82 million by Capital Properties Sdn Bhd, will be ready in the third quarter of 2011.
Sunway International's chief executive officer Hanley Chew said the hotel expects to achieve a 60 per cent occupancy and a RM175 average room rate (ARR) in the first year of operations.
The bulk of its guests is expected to be the business crowd. Apart from the domestic market, the hotel is also targeting travellers from the Asean region, Hong Kong, India, Middle East, Australia and Europe.
"Allson Capital Hotel Medan Tuanku will be fitted with business-class facilities, and will be designed to serve travellers who seek dependable, consistent and practical accommodation options. The hotel will offer 'selected services' accommodation for today's travellers without compromising comfort and design," Hanley said.
The hotel is expected to offer room rates below the traditional full-service hotel, despite its location in the heart of the city.
Some 55 per cent of its business crowd is expected to be corporate, contributed by multinational companies and the commercial sector from the Kuala Lumpur/Klang Valley areas. Another 15 per cent is expected to come from meeting and conference groups, both foreign and local.
The developer of the hotel, Capital Properties Bhd, was formed in the 1960s to engage in the development of the Medan Tuanku area of Kuala Lumpur. A subsidiary of Glenmarie Estates Sdn Bhd, this is Capital Properties' first hotel project.
Sunway International, meanwhile, manages and franchises hotels under the Sunway Hotels & Resorts and Allson Hotels & Resorts brand names.
By New Straits Time
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