Penang Island in future will have another new hotel, Grand Dorsett Hotel. According to the news report, Dorsett International Sdn Bhd aims to add 10 hotels to its existing chain of five hotels and resorts in Malaysia in five years, including one in Penang Island. The parent company of Dorsett International Sdn Bhd had allocated RM500mil for the expansion.
Dorsett International, set up at the end of year 2008, is the Malaysian hospitality arm of Hong Kong-listed Far East Consortium International Ltd, which is mainly engaged in property development and hotel operations in China.
Dorsett International now owns five hotels – the five-star Sheraton Subang Hotel & Towers, the international class Grand Dorsett Labuan Hotel, the four-star Dorsett Regency Hotel in Kuala Lumpur, the four-star Maytower Hotel & Serviced Residences in Kuala Lumpur and the three-star Dorsett Johor Hotel in Johor Baru.
Currently, there are five hotel projects in the pipeline, two in Kuala Lumpur were in the building design stage while the other three were under negotiations for the purchase of land and building.
The five proposed hotel projects are a boutique hotel in Sri Hartamas, a Dorsett Hotel in Cheras, Dorsett Hotel & Resorts in Kota Kinabalu, a Grand Dorsett Hotel in Penang Island and a hotel and a resort in Kuantan or Kelantan
Dorsett International has four brands in Malaysia – Grand Dorsett, Dorsett Regency (business and leisure hotel), Dorsett Hotel (mid-range hotel) and Maytower Hotel & Serviced Residences (a combination of hotel and serviced residences).
Another one is under the rebranding exercise, the 502-room Sheraton Subang Hotel & Towers will be changed to a new name in October after the handover of operations effective Oct 1 2009.
Far East Consortium acquired Sheraton Subang Hotel & Towers from Starwood Hotels and Resorts Worldwide three years ago but the hotel had remained under the management of Starwood.
Currently, Sheraton Subang has a 70% occupancy rate while the Dorsett Regency has 80%, Grand Dorsett Labuan 85%, Dorsett Johor Hotel 60% and Maytower Hotel & Serviced Residences 60%.
For the financial year ended March 31 2009, Dorsett International posted a revenue of RM112mil.
Based on its current occupancy rates, the company expected revenue of RM125mil in this financial year.
The hotel operator forecasts a revenue of RM143mil in financial year 2011 as more hotels are rolled out and as it reaps the benefits of its rebranding exercise.
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