Kuala Lumpur to see 1,931 new hotel rooms in H2 2022 | Realestate Asia
, Malaysia

Kuala Lumpur to see 1,931 new hotel rooms in H2 2022

The luxury segment will account for over half of this new supply.

While hotel openings have remained muted over the last two years on account of COVID-19, JLL said improvement is expected in 2022 as travel confidence gradually picks up. 

There were three notable hotel openings in 2Q22, namely the 271-room Ascott Star KLCC, the 535-room PARKROYAL Collection Kuala Lumpur and the 300-room Le Meridien Petaling Jaya.

Here’s more from JLL:

A total of 1,931 keys are expected to enter the market in the second half of 2022, with the luxury segment accounting for just over half of the incoming room supply. Key upcoming openings include the 252-room Amari Kuala Lumpur, the 210-room Pan Pacific Serviced Suites and the 544-room Conrad Kuala Lumpur.

RevPAR expected to see continued strong growth from 2021 lows

Revenue per available room (RevPAR) reached a record low of MYR 89 in 2021, which was just 21% of 2019 levels. As at YTD June 2022 however, RevPAR increased by 197.7% y-o-y to MYR 190, continuing an upward recovery trend. Growth was primarily driven by occupancy rates, which almost tripled to 35.3%.

On a month-on-month basis, RevPAR has been trending upwards since October 2021 when the interstate travel bans were lifted. It has further increased since May 2022 after international borders were fully reopened. Monthly RevPAR reached a pandemic high of MYR 305 in June 2022, the highest since January 2020.

Outlook: Earlier reopening is expected to drive quicker recovery

Malaysia recently revised and doubled its full year target to four million international visitors for 2022, after achieving its initial target in just over two months when borders fully reopened in April 2022. The reopening of neighbouring borders and wider reopening in the Asia Pacific region is expected to drive a quicker rebound in international visitation.

Recovery for the rest of 2022 is expected to be driven by domestic travellers and visitors from neighbouring countries. The recent depreciation of the ringgit against major currencies has also improved travel affordability for international visitors, allowing Malaysia to better compete with other regional destinations which have also reopened in recent months.

 

Note: Kuala Lumpur Hotels refers to Kuala Lumpur's luxury and upscale hotel market.

 

Follow the link for more news on

Join Realestate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!