THE RECENTLY opened 478-unit Swiss-Garden Residences Kuala Lumpur has registered an average occupancy rate of 90 per cent for its first quarter as of end-July.
The robust figure seemingly validates Swiss-Garden International Hotels, Resorts & Inns’ decision to venture into the serviced residences segment in April (TTG Asia e-Daily, July 21).
Swiss-Garden Hotel & Residences Kuala Lumpur group general manager central region, Rayan Komatt, said: “There is an increasing demand (for serviced residences) from both leisure and business travellers. Leisure travellers now opt for accommodation that provides spacious homely comfort, while business travellers seek space, privacy and modern facilities, yet complemented with hotel services.”
“We are optimistic that the trend will continue to grow,” he added.
Another reason cited by Komatt for the strong response was the property’s location in the heart of Kuala Lumpur, close to prime tourist attractions and shopping areas.
Built at a cost of RM330 million (US$111 million), Swiss-Garden Residences Kuala Lumpur offers one- and two-bedroom apartments, as well as a penthouse. Room rates start from RM298 per day to RM5,600 a month. The property also has more than 1,000m2 of convention space, including a ballroom and seven meeting rooms.
Swiss-Garden’s expansion plans for this segment are already underway.
“Swiss-Garden International will be adding three more properties to its current portfolio, namely the Swiss Garden Hotel & Residences in Butterworth, Penang, Swiss-Garden Hotel & Residences Cameron Highlands, and Swiss-Garden Hotel & Residences Malacca within the next two years,” said Komatt.
“The group’s room inventory is expected to increase by approximately 90 per cent.”
By N. Nithiyananthan
