Casa del Rio to build hotel, suites in Malacca

Syed Yusof’s company Casa del Rio Sdn Bhd bought 1.3ha of land near Jonker Street to develop a 45-room boutique hotel and 50 to 60 units of exclusive service suites.

“The land is located on Jonker Street at the mouth of the river. This is the best location to get … it is the last parcel of prime land by the Malacca River,” Syed Yusof told Business Times.

He estimates that development of the hotel, including land cost, would come with a price tag of between RM40 million and RM50 million.

However, he was unable to provide an estimate for the suite portion as it is still on the drawing board.

The acquisition is in line with the company’s business model to enhance domestic tourism and to work along with the Malacca Tourism Council.

“We hope to commence work within three months and the building will be completed very fast and ready by the middle of next year,” he said.

Casa del Rio Hotel is expected to have an average room rate of RM200 a night and an average occupancy of around 50 per cent in the first year of operations.

Syed Yusof, who is the chairman and owner of Casa del Rio, also runs The Casa del Mar or “Home by the Sea” in Langkawi.

This property developer first ventured into the hotel business in 1990, buying the old Merlin Hotel on Jalan Sultan Ismail and converting it into the Concorde Hotel.

Syed Yusof is also involved in the 288-room Concorde Inn Sepang, Concorde Hotel Shah Alam and The Lakehouse in Cameron Highlands.

He has tied up with the Sultan of Selangor and Perak-born Ong Beng Seng to develop the much awaited RM1.5 billion Four Seasons Kuala Lumpur.

Syed Yusof’s other business involvement includes the Hard Rock Cafe and the Planet Hollywood outlets in Kuala Lumpur.