Integrated Nautical Resort RM220 million St Regis Hotel financing

Overview:

• Integrated Nautical Resort has secured a  RM220 million term loan from Bank Pembangunan Malaysia to construct the St Regis Hotel in Langkawi, Malaysia.
• The construction of the six-star hotel was settled by Ssangyong Engineering & Construction—South Korea’s 13th-largest builder by construction capacity—after it signed a contract with Indonesia-based Rajawali Group.
• The luxury hotel construction is one of the key features in the government’s premium resort development plan, aimed at transforming the island into a world-class tourist destination comparable to Bali in Indonesia, and Monaco.
• The order for the hotel was placed by Integrated Nautical Resorts and will have 87 high-end suites, 16 water villas, private piers for yachts and swimming pools.
• The St Regis in Langkawi will be run by Starwood Hotel and Resorts, which operates the Westin, Sheraton and W hotel chains. It is one of the leading hotel and leisure companies in the world, with 1169 properties in nearly 100 countries and 171,000 employees.

Adam Majeed - Regional editor