As it relaunches the Regent Hotels & Resorts brand, IHG has signed a deal with Multibay Development to open the Regent Kuala Lumpur in Malaysia in 2021.
The company acquired a majority stake in Regent Hotels & Resorts in March, bringing the brand into the top end of its portfolio, and increasing IHG’s presence in a fast-growing luxury segment worth $60 billion.
“I’m delighted that we’re announcing the first signing for our Regent brand today,” said IHG CEO Keith Barr in a statement. “I’m confident that our impressive new positioning and brand identity will allow us to continue to take the brand to the world’s best destinations and help position Regent as a real leader within luxury hospitality. We are already one of the world leaders in luxury with our InterContinental Hotels & Resorts brand, and alongside Regent and Kimpton, we have significant potential to expand our global footprint in the fast-growing luxury segment.”
“It’s been four months since IHG acquired a majority share in Regent Hotels & Resorts and we have already seen what can be achieved in a joint venture with one of the largest and most respected hotel companies,” said Steven Pan, executive chairman, Formosa International Hotels Corporation. “It’s an exciting time for the brand as we propel Regent back to worldwide reach and evolve the brand to appeal to the luxury traveller of today and tomorrow.”
IHG plans to grow the Regent portfolio from six hotels to more than 40 hotels in global gateway cities and popular resort locations.
The Regent Kuala Lumpur will be situated next to the Tun Razak Exchange project, which is set to become the next financial district of Kuala Lumpur and an extension to the city’s golden triangle known for its commercial, shopping and entertainment options. The hotel will be a 45-minute drive from Kuala Lumpur International Airport.
In addition, plans are underway to rebrand the iconic InterContinental Hong Kong, which is set to become a Regent hotel in 2021. The rebrand will see the hotel return to its roots, having first opened its doors as a Regent in 1980.