KUALA LUMPUR: Hyatt Place Kuala Lumpur Bukit Jalil has achieved a healthy occupancy rate this year and expects the positive momentum to continue through 2025, given the Asia-Pacific region’s projected occupancy rate of 63.2% by the end of this year.
However, general manager Captain Bennett Peter said while occupancy provides some insights, profits – not occupancy – truly reflect a hotel’s financial success.
“Achieving the right balance is essential. The optimal mix of occupancy and average room rates helps maximise revenue and increase profitability,“ he told SunBiz.
Peter said that, as a new player in the hospitality industry, and just one year after opening, Hyatt Place Kuala Lumpur Bukit Jalil has already carved a niche as the very first Hyatt Place brand in the country and the first international hotel brand to open its doors in Bukit Jalil.
“Being strategically located in one of the most vibrant destinations in Kuala Lumpur, we have seen an increase in occupancy during international concerts and world-class sporting events and exhibitions.
“A month after we opened, we were already profitable with a positive cash flow, taking the lead among opened hotels the year. We expect this momentum to carry through into 2025 with a healthy gross operating profit,“ Peter said.
Touching on the brand, Peter said Hyatt will expand its presence in Malaysia by opening several hotels, namely Hyatt Centric Kuala Lumpur City Centre, Park Hyatt Kuala Lumpur and Hyatt Regency Kuala Lumpur Midtown.
“As for the Hyatt Place brand, we were the first to open in Malaysia in 2023 and the second in Southeast Asia, followed by the opening of Hyatt Place Johor Bahru Paradigm Mall shortly after. The Hyatt Place Kuala Lumpur Bukit Jalil is also currently the largest Hyatt Place brand hotel in Southeast Asia.”
Hyatt Place Kuala Lumpur Bukit Jalil is also seeing a rise in the number of combined business and leisure travellers, or “bleisure” travellers, and expects this trend to continue, Peter said.
“People want to gain the most out of their time whenever they travel. Hyatt Place Kuala Lumpur Bukit Jalil is exactly the place to live, work and play.
“We are also noticing that many more millennial travellers and digital nomads are being more selective about where they prefer to stay. They opt for hotels with complimentary full Wi-Fi, a work-and-play space, sustainable practices, and 24/7 refreshment options,“ Peter said.
He added that Malaysia is competing with the rest of Southeast Asia for tourism receipts, and hotel operators need to stay alert, agile and strategic to stay ahead.
“In addition to targeting foreign visitors, the Malaysian traveller (business and leisure) has formed a significant share of the business we captured in our first year. This will continue to drive the growth in our revenue per available room and gross operating profits, which are very important metrics to safeguard in order to sustain the success of our business,“ Peter said.
