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Genting’s GITP, Guinness Book of Records and near full occupancy

When I was still based in Penang, I used to visit Genting Highlands at least once a year. Today, I can visit Genting Highlands every weekend, if I wanted to because from my home to Genting is just 55 minutes. It’s a good place to relax and yes, try my luck. For every trip, I allocate a maximum of RM200 per visit for this. In the trip before just months ago, I won. Well, Genting Malaysia Bhd has also won back their crown as the world’s largest hotel from Guinness Book of Records. On June 20 2015, First World Hotel with their latest addition now has 7,351 rooms and they beat The Venetian and The Palazzo with 7,117 rooms. Small thing? Well, since you already have that many, just build more and take back that crown lah.
According to Genting Malaysia senior vice-president of hotel operations Edward A. Holloway, the future winner should be The Abraj Kudai hotel with 10,000 rooms in Mecca, Saudi Arabia. It is 2 years away though. The First World Hotel has already received 35.5 million guests over the nine years since its first record in 2006. In fact this recognition has helped it to attract visitors from international markets. Genting Malaysia has also embarked on a RM5 billion Genting International Tourism Plan (GITP) and this would continue to support the demand for room bookings next year. Even without its theme park currently, Resorts World Genting with its 10,044 rooms in five of its hilltop hotels is still running at an average of 88% to 92% occupancy for the year.
According to Holloway, for an integrated resort like Resorts World Genting, they are aiming at how much the customer in the room is willing to pay in the restaurants, theme parks and shows. This is above what the usual room can provide. I think this is also why on and off after staying there, I do get free room offers for weekdays. Room may be free but when I bring my family, the spending per day would reach RM200 easily. In 2014, Resorts World Genting received 18.1 million visitors of which 28% stayed in the hotel and 72% day-trippers.
In terms of opportunities, well there are at least 3 property developments by three different property developers in Genting Highlands today. All three are not part of the Resorts World Genting’s plans. If you like their concept and believe GITP will lure even more visitors, then perhaps you can get a unit too. As for me, my plans remain simple and perhaps the same. Will be visiting Genting Highlands again in the near future followed by a longer stay when their Twentieth Century Fox World theme park opens next year. Oh yeah, many of my foreign colleagues have visited Genting Highlands before when they visited KL. I think this number should continue because there are certain advantages that the two casinos in Singapore just do not have. Happy visiting.
written on 15 Sept 2015
Next suggested article: Another Premium Outlet, this time high up the hills

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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