Mon, 19 March 2018

Travelodge Signs Two Hotels in Kuala Lumpur, Malaysia

Travelodge has unveiled plans to open two Travelodge hotels in Kuala Lumpur, Malaysia.

 Both hotels are in key city centre locations in Kuala Lumpur and will open in Q3 2018.

 Malaysia will be the fifth destination on Travelodge’s expansion trail in Asia, following closely after two hotel openings in Hong Kong, two in Thailand and one in Indonesia. The company also has a hotel under development in Vietnam.

Stephen Burt, Chairman of Travelodge Hotels Asia, said, “Travelodge was an iconic brand in Malaysia in the 90s, and we are delighted to bring the brand back to Kuala Lumpur with two great hotels in such superb locations. These hotels will serve as a springboard for the growth of the Travelodge brand across Malaysia. We are working on various opportunities in other cities such as Penang, Malacca and Kota Kinabalu, across a combination of both managed and franchised hotels.”

The 203-room Travelodge Central Market is a stone’s throw away from major attractions such as the eponymous Central Market, a haven for local arts and crafts, and the bustling Petaling Street, the city’s popular bargain shopping mecca in the cultural centre of Chinatown. The hotel is also 50-metres away from Pasar Seni LRT and MRT Station, just one stop away from Kuala Lumpur Sentral, Kuala Lumpur’s largest integrated transport hub, and two stops away from Bukit Bintang.

Artist Impression of Lobby at Travelodge Central Market in Kuala Lumpur, Malaysia. Click to enlarge.

Located nearby, the newly renovated 168-room Travelodge Bukit Bintang is situated in Kuala Lumpur’s Golden Triangle, right at the pulse of the city’s shopping and business district. The hotel is less than 1km away from the iconic Petronas Twin Towers, a must-visit destination for travellers who want to take in the breathtaking views of the city at 88 stories high. Food enthusiasts will be delighted to have easy access to Jalan Alor, a street best known for its local hawker food and seafood restaurants. The property is also perfect for the business traveller with its close proximity to Jalan Sultan Ismail and Jalan Raja Chulan where key commercial buildings and offices are located.

Travelodge Central Market and Travelodge Bukit Bintang will both have a fitness centre, self-service laundromat and grab-and-go breakfast for all guests.

 Marcus Aw, Director of Midscale Hotel Investments Pte. Ltd., a wholly-owned subsidiary of SGX-listed ICP Ltd, said, “We are delighted to follow up our maiden hotel investment in Hong Kong late last year with our second acquisition – Travelodge Central Market in Kuala Lumpur, Malaysia. We are optimistic that the increasing investment in infrastructure projects such as the Kuala Lumpur-Singapore high speed rail, and the 70-acre Tun Razak Exchange (TRX), will cement Kuala Lumpur’s status as one of the key commercial centres in Asia. We have taken into account the hotel operating cycle, the lack of supply of good quality midscale hotels, and the overall risk-return profile in making this investment decision. We continue to source opportunities to acquire hotels in Kuala Lumpur and other key cities in Asia such as Singapore, Hong Kong, Seoul, Bangkok and Tokyo, and are confident that the Travelodge Asia operating platform will deliver strong returns to us as hotel owners and help our partners achieve their investment objectives and returns criteria.”

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