The company, which owns the five-star G-Hotel fronting Penang's famous esplanade, Gurney Drive, is looking to build a budget-cum-boutique hotel near its existing property.
The proposed 204-room hotel will be sited on a 0.4ha plot and the company is budgeting between RM70 million and RM80 million for the project, Gurney Plaza Sdn Bhd director Phuah Choon Meng said.
"We are awaiting approval from the local authorities," he told Business Times in Penang.
Phuah said the proposed hotel is set to be completed by 2010. Its developers are aiming at the rise in visitors to Penang island, since George Town made it to Unesco's World Heritage List.
"This proposed hotel project will be good for the Penang since we will be able to generate new jobs and more business for contractors and suppliers," he said.
Phuah said the proposed hotel will front Jalan Kelawai in Pulau Tikus and is within walking distance to the Gurney Plaza shopping mall and Gurney Park Condominiums.
"We are hoping to offer an unusual lobby and decor for the new hotel," he added, "along the lines of G-Hotel."
G-Hotel was last year recognised by the International Real Estate Federation (Fiabci) the best 2008 Hotel Development category at the Malaysia Property Award.
Last week, it emerged first runner-up in the hotel category of the Fiabci Prix d'Excellence Awards 2009 international property awards.
By Business Times (by Marina Emmanuel)
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