KUALA LUMPUR, April 30 — City Motors Group has signed a management agreement with InterContinental Hotels Group (IHG) to operate Holiday Inn Kuala Lumpur Bangsar, which will be part of Alfa Tower in Bangsar.
City Motors Group chairman Datuk Foo Wan Kien said the agreement was an initiative of the company to establish a firm foothold in the local hospitality scene.
“This latest move will consolidate the group’s diversification plan to secure sustained recurring revenue,” he said.
The hotel will occupy part of Alfa Tower, a 46-storey mixed-use development, which will also comprise high-end service apartments and a commercial podium.
The project is expected to be completed in 2022.
Holiday Inn Kuala Lumpur Bangsar will feature 220 rooms and six meeting rooms, with a banquet hall for 800 people while the service apartments will cater to families or young adults and couples looking to upgrade, as well as property investors seeking real estate appreciation.
The group intends to move its headquarters to Alfa Tower, which will also have a showroom showcasing the vintage Alfa Romeo GTA to commemorate the success of the sports car.
At a brief ceremony yesterday, Foo signed the agreement on behalf of City Motors Group while IHG was represented by its Vice President, Development, South East Asia & Korea, Serena Lim.
Meanwhile, the proposed re-development of the adjoining land into a RM1.5 billion mixed development by Pelaburan Hartanah Bhd will provide a boost to property values within the vicinity.
Foo said the group is also developing another project, a 56-storey tower hotel and suites, located in Bukit Bintang. Both the Bangsar and Bukit Bintang projects are located on the group’s showrooms for Alfa Romeo cars.
He said, IHG is one of the world’s largest hotel companies and was selected due to the two companies’ shared values.
“I realised that there are few if not no branded hotel with a Bangsar address though it is an affluent enclave and felt that it is important to introduce an internally-branded hotel to the area,” he said.
“Combined with IHG’s track record at successfully managing developments globally, I am confident the hotel will provide guests with a memorable stay,” he added.
IHG vice president of development for Southeast Asia and Korea Serena Lim said Holiday Inn Kuala Lumpur Bangsar will be the fourth IHG property in Kuala Lumpur and is poised to become a flagship for the Holiday Inn brand in Malaysia.
IHG operates five hotels across four brands in Malaysia, including InterContinental, Crown Plaza, Holiday Inn and Holiday Inn Express.