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Marriott International Signs Agreement with IOI Properties Group to Add Palm Garden Hotel to Tribute Portfolio in Malaysia

Marriott International announced it has signed an agreement with IOI Properties Group, Malaysia’s leading integrated lifestyle real-estate group, to add the Palm Garden Hotel to the company’s Tribute Portfolio. Tribute Portfolio is Marriott International’s growing global family of characterful, independent hotels drawn together by their passion for captivating design and their drive to create vibrant social scenes for guests and locals alike. Under the agreement, the current 151-room Palm Garden Hotel is expected to rebrand to become part of Marriott International’s Tribute Portfolio following a strategic conversion.

“We are excited to build on our relationship with IOI Properties Group and further expand our portfolio in Malaysia,” said Paul Foskey, Chief Development Officer, Asia Pacific, Marriott International.

IOIPG Executive Vice Chairman Lee Yeow Seng said the hospitality and leisure segment of the Group leverages on its stable of world-class brand hotels in providing excellent customer experience, augmented by distinctive IOIPG-brand offerings that always prioritize the needs of its customers.

“This is in line with our business strategy of delivering excellence, creating value for stakeholders, and developing sustainable communities. Marriott International has a reputation for excellent service and quality. Their commitment to diversity and inclusion creates opportunities for local communities to thrive, fostering a positive sense of wellbeing in the society, which also reflects the corporate culture of IOI Properties Group,” he said after the signing ceremony between IOIPG and Marriott International.

“We are constantly finding alternatives to increase revenue and consolidating our hotel operations is an effective way. This will lead to better cost optimization and improved operational efficiency, resulting in value creation for stakeholders and sustained profits for shareholders. It will unlock the potential value of our property and hotel assets. The strong brand positioning and presence of Marriott International, together with its values of pursuing excellence and embracing change will take the hospitality segment of IOIPG to the next level, as the hospitality and leisure industry in Malaysia recovers post COVID-19.”

Located in the 788-acre IOI Resort City and on the edge of the Palm Garden Golf Club, the hotel anticipates undergoing a renovation and begins operating as the Palm Garden Hotel, Putrajaya, a Tribute Portfolio Hotel, under the Marriott Bonvoy portfolio later this year.  Surrounded by verdant and scenic greenery, the hotel will feature a signature Thai restaurant, an alfresco bar, two large swimming pools, and a recreation centre with obstacle courses and various team building facilities. The hotel will also provide 11 multifunctional event spaces including a ballroom with over 6,000 square feet.

“We are thrilled to sign the agreement with IOI Properties Group to introduce the Tribute Portfolio brand to the administrative city of Putrajaya,” said Rivero Delgado, Area Vice President – Singapore, Malaysia, Maldives, Marriott International. “This signing marks our commitment to expand our diverse Marriott Bonvoy portfolio across Malaysia where we currently offer a breadth of brands providing guests endless experiences.”

With this signing, Marriott International expects to manage six hotels for IOI Properties Group – three operating hotels in Malaysia (Le Méridien Putrajaya, Putrajaya Marriott Hotel, Four Points by Sheraton Puchong) and two new hotels (Sheraton Grand Xiamen and Moxy Putrajaya) in the pipeline. The Palm Garden Hotel, Putrajaya, a Tribute Portfolio Hotel, is expected to be the sixth.

 

Source: Marriott International Inc. via PR Newswire

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