Plenitude invests RM50mil for upgrading works

Chua: Target occupancy for the hotel is 70

KUALA LUMPUR: Plenitude Bhd has invested RM50mil for the renovation and upgrading of Oakwood Hotel and Residences Kuala Lumpur, previously known as Nomad Sucasa All Suites Hotel.

The Oakwood Hotel and Residence Kuala Lumpur is a mixed-used project consisting of two towers, the 198-unit Sucasa Corporate Apartments and the 252-unit Nomad Sucasa All Suites Hotel.

Both of them have been in operation since the early 1990s.

Plenitude Bhd executive chairman Elsie Chua said that the property was officially closed in July 2015 for refurbishment, and that once it was completed, it will be managed by Oakwood Asia Pacific Ltd.

She was speaking to reporters at the signing ceremony here yesterday.

With the opening of Oakwood Hotel and Residences Kuala Lumpur in September 2016, Plenitude will own six hotels with a total inventory of 1,200 rooms, said Chua.

She said the target occupancy for this hotel was 70%.

The hotels under Plenitude’s belt include Novotel Kuala Lumpur City Centre, The Nomad Serviced Residents Bangsar, Four Points by Sheraton Penang, The Gurney Resort Hotel and Residences Penang, and Glow Penang.

“This agreement also signifies Oakwood’s first property in Malaysia,” Chua said.

Oakwood worldwide has four brands, namely Oakwood Premier, Oakwood Studios, Oakwood Residence and Oakwood Apartments. – Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Plenitude


Next In Business News

CPO futures trading to remain range bound next week
Advisory panel unanimously recommends FDA authorize Johnson & Johnson COVID-19 vaccine
GameStop rally fizzles; shares still register 151% weekly gain
NYSE begins move to delist Chinese state oil producer CNOOC
Oil price drops on US$ strength and OPEC+ supply expectations
GLOBAL MARKETS-Globals stock slide on inflation fears
AMMB says it has enough capital to absorb 1MDB global settlement�
A five-year high for FGV Holdings
AMMB to pay RM2.83bil to the government
IHH to take proactive measures

Stories You'll Enjoy