A Hyatt Hotels affiliate and PNB Merdeka Ventures Sdn. Berthed—a subsidiary of asset manager Permodalan Nasional Berhad—have agreed to develop a Park Hyatt in Kuala Lumpur, Malaysia.
The 17-floor Park Hyatt Kuala Lumpur, which is scheduled to open in 2021, will be part of the Merdeka PNB 118 tower development. The hotel will have 232 guestrooms with 28 suites and 30 residential apartments.
The new Park Hyatt is the first hotel to be part of the Merdeka PNB 118 tower development. The tower, which is slated to be complete in 2020, is set to be the tallest skyscraper in Southeast Asia and the third tallest in the world. The property, which will also have office space and an observation deck, will be near Stadium Merdeka, an UNESCO heritage site.
The hotel will be the fourth Hyatt-branded hotel to operate in Malaysia. The first and only Hyatt property currently operating in Malaysia is the Grand Hyatt Kuala Lumpur. The 298-guestroom Hyatt House Kuala Lumpur, Mont’Kiara is expected to open this year as the first Hyatt House in Malaysia.
The Hyatt Place Melaka Gateway will follow up the Hyatt House when it opens in late 2019. The 200-room hotel—the first Hyatt Place in Malaysia—will be a part of the Melaka Gateway mixed-use development, which is currently being developed by KAJ Development. The development, which is being constructed across three reclaimed islands, is set to be complete in 2025. The site will also have office towers, residential space, additional hotels, a convention center, shopping centers and a cruise terminal.