Luxury Hotel Player in the Heart of KL City
A luxury hotel player in the heart of KL City is planning to refurbish some of its service apartments as part of the strategy to have a better competitive advantage in the market.
To ensure the refurbished service apartments will meet the market demand, JLL’s Research and Consultancy team has been appointed to conduct a study for branded service residences within the vicinity of KLCC.
To provide a holistic recommendation on the positioning of the service apartments to our Client, we conducted a market study to better understand the current supply and demand situation of service apartments in the KLCC area. This includes an understanding of the preferred room types, rates and facilities of the service apartments. Subsequently, a Highest and Best Use analysis and feasibility study were carried out based on input from our market study.
The results of our study, suggested that our Client should proceed with their initial plan to refurbish the service apartments. In addition to that, we also proposed strategies to help further maximise the potential income from these refurbished service apartments. The Client adopted our recommendations and hopefully, our analysis may help them gain a better competitive advantage in the market.
As a corporation, we are proud that we could assist our Client by providing leading professional opinions for their proposed development. Going forward, we hope to continue offering our expertise for our Clients to further understand the market situation before making their investment decision.