Media Release: Rolling Out The Welcome Mat: Malaysia’s Largest Co-Living & Hotel Chain Operator, Swing & Pillows Just Got Bigger with the Acquisition of 5 Hotels in Bukit Bintang 

Media Release: Rolling Out The Welcome Mat: Malaysia’s Largest Co-Living & Hotel Chain Operator, Swing & Pillows Just Got Bigger with the Acquisition of 5 Hotels in Bukit Bintang 

The Organisation now boasts over 120 hotels and 3 resorts across Malaysia tapping into a portion of the USD 13 billion global co-living market 

KUALA LUMPUR, 10 July 2024 — Swing & Pillows, Malaysia’s leading and largest co-living and hotel chain operator, is unpacking new opportunities as they announce a strategic expansion into the Bukit Bintang area. Marking a significant milestone in their growth journey, the expansion, paired with the acquisition of five hotels under the new Kingston brand, consolidates their aim of solidifying their presence in key strategic locations and expanding their reach to serve multiple market points from entry-level to premium. 

“This expansion marks a major move for us, and we’re looking forward to seeing the opportunities it brings,” shares Ken Lee, Chief Executive Officer of Swing & Pillows. “Traditional hospitality and housing as we used to know it has changed— with the rise in remote work, cost of living and the general changing sentiment around home ownership, there is a growing need for accommodations that offer flexibility and comfort. It’s a whole new world out there, and one that we intend to cater to as best as we can. As we expand into the Bukit Bintang area, we’re looking to go over and above our ongoing commitment to raising the bar in hospitality, in alignment with our core values of innovation, quality, and customer satisfaction.” 

Co-living is a modern housing trend where individuals share living spaces and resources within a community-oriented environment, blending private and communal living arrangements to cater

to the needs of those who seek both personal space and social interaction. This concept provides numerous benefits, including affordability, convenience, flexibility, and community-building opportunities. Recent data highlights positive growth in the global co-living market, with the market valued at approximately USD 13 billion in 2022, and expected to expand at a CAGR of 29.9% during the forecast period, reaching USD 63 billion by 2028. 

On the local front, co-living is shifting from a niche market to a mainstream option as the concept gains popularity with the rise of digital nomads and the growing preference for flexible living arrangements. Recognising the sectors’ potential, Swing & Pillows, powered by iBilik, was established in May 2022 and has since rapidly expanded to become Malaysia’s largest co-living and chain hotel operator, boasting a portfolio of over 120 hotels and 3 resorts in major city centres, including Kuala Lumpur, George Town, Johor Bahru, Malacca, Subang Jaya, Petaling Jaya, and Shah Alam. 

Initially founded to help smaller chain hotels recover from the economic slowdown post-pandemic, Swing & Pillows co-living model instead allows a portion of unused rooms to be repurposed into long-term rental units, maximising asset utilisation and creating steady alternative revenue streams. In doing so, Swing & Pillows redefines the local hospitality landscape as it caters to the evolving needs of modern travellers, expatriates, and working professionals by offering innovative and flexible accommodation solutions. 

The brand’s latest expansion into Bukit Bintang, coupled with the previously mentioned hotel acquisition marks a notable shift as they seek to cater to customers within the premium market as well — locals, expatriates, and tourists alike. A literal star in Kuala Lumpur’s urban jungle, Bukit Bintang’s popularity among locals and tourists alike, thanks to its vibrant mix of entertainment, shopping, and business opportunities, makes it the ideal location from which to kick off their expansion plans. 

This acquisition also reinforces Swing & Pillows commitment to providing exceptional living experiences characterised by quality and convenience. With the introduction of the Kingston sub-brand, they seek to elevate the accommodation experience, offering luxurious amenities and top-tier services to meet the expectations of discerning guests, a move that enhances their ability to serve a premium clientele while placing themselves as a dominant player in the district, and the sector as a whole. 

The recent acquisitions are anticipated to significantly boost Swing & Pillows revenue, with projections indicating potential earnings of over RM 60 million by the end of 2024. Meanwhile, the brand’s focus on strategic growth and market penetration positions them for continued success and leadership in Malaysia’s hospitality sector. As Swing & Pillows stands poised to become the biggest player in the co-living area, they remain committed to providing exceptional living experiences for their guests. For more information about them, please visit https://swingandpillows.com/ .

— end of media release —

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