Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a management agreement with PNB Merdeka Ventures Sdn. Berthed, an owned subsidiary of Permodalan Nasional Berhad (PNB) and Malaysia's largest fund-management company, for the first Park Hyatt hotel in Kuala Lumpur, Malaysia. The high-end hotel, designed to meet the needs of the discerning global traveler, will join the city's prestigious development − Merdeka PNB 118 tower. Anticipated to be completed in 2020, the tower is expected to be the tallest skyscraper in Southeast Asia and the third tallest in the world.
Set to open in 2021, Park Hyatt Kuala Lumpur will offer a one-of-a kind experience for guests as it will occupy the top 17 floors of the 118-floor tower overlooking Stadium Merdeka, Malaysia's national treasure and a UNESCO heritage site, where the country's independence was declared in 1957.
"We are delighted to collaborate with PNB Merdeka Ventures Sdn. Berhad and to announce the introduction of the Park Hyatt brand in Malaysia," said David Udell, group president Asia Pacific, Hyatt Hotels Corporation. "The new Park Hyatt Kuala Lumpur will provide guests with meaningful and enriching moments as they find themselves surrounded by contemporary luxury and artistry at its best − from original art works to the finest in culinary expression."
Park Hyatt Kuala Lumpur is the first brand to announce plans to join the Merdeka PNB 118 tower development, which will redefine the Kuala Lumpur skyline with its classic and contemporary aesthetics. The hotel will boast 232 guestrooms, including 28 suites and 30 residential apartments. True to the Park Hyatt brand, the hotel is being designed to offer guests warm, intimate experiences, including residentially-inspired spaces such as galleries and libraries. The hotel will feature more than 20,000 square feet of flexible meeting spaces for events and celebrations. With three on-site restaurants and bars, guests will also be able to experience exceptional food and beverage programs including: a signature restaurant, bar and a skyline-level restaurant. Grounded in mindfulness, the hotel will provide luxurious wellness offerings including a six-treatment room spa, state-of-the-art fitness center and a swimming pool with city views of Kuala Lumpur.
"The Park Hyatt brand is a leader in luxury hospitality and offers guests a one-of-a-kind experience with highly personalized, intuitive and fully engaged service; renowned art and design; and exceptional food and wine," said Tan Sri Abdul Wahid Omar, PNB group chairman. "The brand has hotels in iconic cities around the world, and we're thrilled to welcome the brand to Kuala Lumpur's Merdeka PNB 118 tower and to be a part of the brand's global network."
The Merdeka 118 Precinct project is anticipated to attract business and leisure travelers from around the world and will include the Merdeka PNB 118, a tower spanning more than three million square feet that will be compromised of Park Hyatt Kuala Lumpur, office space and an observation deck. Major infrastructure plans are underway to improve accessibility to the precinct including the Merdeka Mass Rapid Transit station (MRT), which is already in operation, and construction of two tunnels for vehicular access to the tower.
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