“Increased expenditure on both maintenance and product improvement will therefore be necessary for the group to stay relevant and competitive,” said Mr Kwek, who is also the Executive Chairman of Hong Leong Group Singapore.

In Singapore, the refurbishment of 260 deluxe guest rooms in the Orchard Hotel Singapore’s Orchard Wing is expected to commence in the second half of 2018. Refurbishment is also planned for the lobby area, meeting rooms and dining outlets at the ground level. The hotel’s Hua Ting Restaurant recently revealed a revamped space with brightly lit interiors and more private rooms, with the largest being the Chairman’s Room, where a 20-seater-table measuring four metres with an automated Lazy Susan takes centre stage.

The completed refurbishment exercise will improve overall guest experience and enhance the competitiveness of the hotel.

Other hotels in Singapore that have undergone asset enhancement include Grand Copthorne Waterfront, Studio M Hotel Singapore and M Hotel Singapore.

In Kuala Lumpur, the final phase of the refurbishment of Grand Millennium Hotel Kuala Lumpur, involving the guest rooms on the seventh and eighth levels, is under review. Soft renovation of other guestrooms was completed in 2016.

In London, phased refurbishment work is underway at Millennium Hotel London Mayfair. Refurbishment of Millennium Hotel London Knightsbridge is planned to commence when work on Millennium Mayfair finishes in 2019.

Meanwhile, plans are being laid to enhance CDL Hospitality Trusts’(CDLHT) assets in Maldives and Japan. CDLHT is Hong Leong Group’s hotel real estate investment trust.

Extensive asset enhancement plans are being finalised for Dhevanafushi Maldives Luxury Resort, which is managed by AccorHotels. This will culminate in a full re-branding exercise into a Raffles resort, under the iconic collection of Raffles Hotels and Resorts later this year. In a bid to strengthen its offering and market positioning, Angsana Velavaru will also undergo a refurbishment exercise to upgrade 28 land villas.

Over in Japan, soft refurbishment of 81 rooms in Hotel MyStays Asakusabashi and 53 rooms in Hotel MyStays Kamata has started. Refurbishments include converting three rooms at Hotel MyStays Asakusabashi into a traditional Japanese design to appeal to international guests

“For our hospitality business, we will prudently expedite the refurbishment of M&C’s portfolio which is a key contributor to our recurring income,” said Mr Kwek.