InterContinental Hotels Group has signed a management agreement with Golden Wave for the first Crowne Plaza hotel in East Malaysia.
The 367-room Crowne Plaza Kota Kinabalu Waterfront, slated to open in 2021, will be part of a mixed-use development at a waterfront location in downtown Kota Kinabalu. Ten minutes from Kota Kinabalu International Airport, the hotel is within walking distance to major office buildings, shopping centres and tourist attractions.
“Home to Malaysia’s second busiest airport, Kota Kinabalu has seen significant tourism growth over the last few years, with double-digit annual increase in international visitor arrivals,” Leanne Harwood, VP of operations for South East Asia and Korea at IHG, said in a statement. “Sabah’s economy is also expected to grow fourfold over the next decade with support from the Sabah Development Corridor Economic initiative…The city shows great potential for growth in tourism, especially with upcoming developments such as the Kota Kinabalu Convention City. We are very excited to work with Golden Wave Sdn Bhd to bring the Crowne Plaza brand into East Malaysia.”
Golden Wave is a subsidiary of Bursa Malaysia-listed Ho Hup Construction Company Berhad. It is a joint-venture entity managed by Ho Hup Construction Company Berhad, along with Tribeca Real Estate Asset Management and several local shareholders.
“We are looking forward to embarking on our first hotel development with IHG to diversify our real estate portfolio and strengthen the offerings at the mixed-use complex,” Dato’ Derek Wong, CEO of Ho Hup Construction Company Berhad and Golden Wave Sdn Bhd said. “Crowne Plaza is a well-recognized and trusted brand and we are confident that Crowne Plaza Kota Kinabalu Waterfront is poised for success.”