<div class=newsTextDataWrapInner><p>PETALING JAYA (March 31): Sunway Hotels &amp; Resort, the hospitality division of the Sunway Group, announced an investment of RM875 million to facilitate a three-year redevelopment and expansion plan for its hotels in Malaysia, Cambodia and Vietnam today.<br />
&nbsp;<br />
RM530 million is for new investment assets and RM345 million is for refurbishment and expansion of existing assets.</p></div>

<div class=newsTextDataWrapInner><p>The plan commences this year, with completion targeted for the second quarter of 2018.</p></div>

<div class=newsTextDataWrapInner><p>Speaking to reporters at a media briefing today, Sarena Cheah, managing director of the property division, said the plan would be funded internally and also from bank borrowings.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"In fact, Sunway Pyramid Hotel West and Velocity Hotel has already been incurred under Sunway Bhd," she said.</p></div>

<div class=newsTextDataWrapInner><p>Cheah said the new expansion and the refurbishment for Sunway Pyramid Hotel East and Sunway Resort Hotel &amp; Spa, which is under Sunway Real Estate Investment Trust (REIT), will be funded by the REIT's bank borrowings.</p></div>

<div class=newsTextDataWrapInner><p>Upon the completion of all expansion plans in 2018, Sunway Group will own and operate a total of 11 hotels, with 3500 guest rooms.</p></div>

<div class=newsTextDataWrapInner><p>Cheah said the next location for Sunway to build a hotel, will be at Iskandar region, Johor.</p></div>


PETALING JAYA (March 31): Sunway Hotels & Resort, the hospitality division of the Sunway Group, announced an investment of RM875 million to facilitate a three-year redevelopment and expansion plan for its hotels in Malaysia, Cambodia and Vietnam today.
 
RM530 million is fo...

Sunway to invest RM875m to boost hospitality unit

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