Tropicana and Marriott ink to develop 200-room hotel in Penang
Tropicana 218 Macalister is a luxurious integrated development on 2.1 acres in the business district of George Town.
Its concept would consist of the 15-storey Courtyard Hotel, 211 units of commercial suites, 88 units of service residences and retail outlets, slated for completion in 2018.
Property developer Tropicana Corp Bhd and Marriott International Inc will develop a 200-room hotel in Penang, to be known as the Courtyard by Marriot.
The RM300mil development would be the first Courtyard Hotel in Malaysia, and would be a part of a bigger development – Tropicana 218 Macalister, which has a gross development value (GDV) of RM511mil.
“Since the launch of Neo Suite, the first phase of Tropicana 218 Macalister, we have recorded a take-up rate of more than 85%,” Tropicana Corp group chief executive officer Datuk Yaw Kok Seng said in a press conference.
Currently, Courtyard by Marriot is in 25 countries in the Asia-Pacific region, such as Thailand, South Korea, Indonesia, India and China.
“We are strategically located in hot spots in the country, from 218 Macalister and World City in Penang to Iskandar (Malaysia), Johor. We have a total undeveloped GDV of RM80bil.”
“We have in our pipeline 48 hotels across the region,” Marriott International Asia Pacific hotel development director Peter Gassner said.
He added that there were currently seven Marriot hotels in Malaysia.
“With this being the first and only integrated concept in Penang, we are confident that the retail and hotel segments will take off,” Yaw said.
