ECM Libra accelerates foray into hotel management

KUALA LUMPUR: ECM Libra Financial Group Bhd’s wholly owned subsidiary Ormond Group Sdn Bhd will own and manage – both for the group and on behalf of third parties – three distinct hospitality brands, namely Ormond Hotels, Tune Hotels and SubHome.
The first Ormond Hotel will be an extensive refurbishment of the original Tune Hotel in Kuala Lumpur. Scheduled to open under a brand and management arrangement in the second half of 2019, Ormond Hotels is a collection of boutique design hotels with activities and programming inspired by the local area and culture.
Other Ormond Hotels on the horizon include Dublin (1H 2020 – brand and management contract) and Melbourne (2H 2020 – owned asset). The Ormond Group is currently assessing several properties across Southeast Asia and Australia to be developed as future Ormond Hotels.
Post a recent corporate exercise with Tune Hotels, ECM Libra owns the klia2, Penang and Kota Kinabalu Tune Hotels with the addition of Aeropolis Tune Hotel by end of 2018. The group will continue to revamp and reposition the limited service Tune Hotels offering and is evaluating sites at aviation and transportation hubs across the region.
A recent 50% acquisition in Malaysian home-sharing pioneer, SubHome, will be housed under the Ormond Group, providing guests more options in accommodation during their travels.
SubHome is in active discussion with several property developers in the Klang Valley, Penang and Johor Baru and will offer 500 suites for booking by the end of 2018.
Ormond Group CEO Gareth Lim said having a varied brand and product offering under the Ormond Group allows it to be more guest-centric and cater to a wider range of requirements.
“We believe we have the right mix of products at value-for-money price points to be able to engage with wide-ranging personas and needs of guests.
“As part of the group’s push into the space, the Ormond Group will also be incubating, investing in and partnering with early stage hospitality companies that improve our product offering, customer journey and experience, and operational efficiencies,” said Lim.