Based on the news report, Penang will have 10 new three to five-star hotels which are expected to be built between 2010 and 2014 and the total investment is expected to be more than RM1 billion.
It is estimated till the year end of 2009, three hotels in Penang Island that would open their doors are
- Hard Rock Hotel (opens on 19 September 2009) in Batu Ferringhi
- Flamingo Hotel (the former Crown Prince Hotel) in Tanjung Bungah
- Eastin Hotel in Bayan Bay.
According to Malaysian Association of Hotels (MAH), Penang chapter chairman Marco G Battistotti, the 10 new hotels would expand the rooms, in the three to four star hotel category, by 50% from the 9,000 now to 13,000 rooms in 2014.
Battistotti said despite the global economic downturn, Penang's beach hotels recorded higher occupancy rate this year compared to 2008 while the city hotels saw a 2% to 3% drop.
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