HOTEL FRANCHISE AGREEMENT SIGNING CEREMONY BETWEEN ICONIC PENANG SDN BHD & MARRIOTT INTERNATIONAL INCORPORATED FOR
SPEECH BY YAB TUAN CHOW KON YEOW
THE CHIEF MINISTER OF PENANG
HOTEL FRANCHISE AGREEMENT SIGNING CEREMONY BETWEEN ICONIC PENANG SDN BHD & MARRIOTT INTERNATIONAL INCORPORATED FOR
ICONIC MARJORIE
28TH SEPTEMBER 2023
Yang Berhormat Wong Hon Wai
State EXCO for Tourism and Creative Economy
Yang Berhormat Dato’ Seri Sundarajoo
State EXCO for Housing and Environment
Yang Berhormat Fahmi Zainol
State EXCO for Agrotechnology, Food Security and Cooperative Development
YB Gooi Hsiao Leung
State assemblyman for Bukit Tengah
Yang Berbahagia Dato' Seri Tan Kean Tet
Chairman of Iconic Group
Mr. James Tan, Mr. Jason Chung & Ms. Katherine Tan
Executive Directors of Iconic Group
Mr. Kevin Chen
Senior Vice President of Marriott International – Development, Asia Pacific excluding China
Mr. Andree Susilo
Senior Director of Marriott International
Mr. Kevin Cheah
General Manager of Iconic Hotel Penang
Distinguished guests,
Members of the media,
Ladies and gentlemen,
A very good morning to all of you.
First and foremost, I extend my sincere gratitude to Iconic Penang for the kind invitation and for giving me the honour to witness this significant franchise agreement ceremony for their new hotel in Bayan Lepas. My heartfelt congratulations to both Iconic Penang and Marriott International, as well as all parties involved in bringing this project to fruition.
As we gather here today, we are standing on the cusp of a new era for tourism and hospitality in Penang. Iconic Marjorie, as aptly highlighted by Mr. James Tan, is strategically poised to cater to the needs of the thriving business community in Bayan Lepas and across Penang. Nestled along the bustling Sultan Azlan Shah Road, this hotel will not only serve as a gateway to Bayan Lepas but also a bridge to the UNESCO World Heritage site of Georgetown and the beautiful Batu Ferringhi.
What excites me further is the fusion of Penang's vibrant Peranakan culture with contemporary design in the blueprint of Iconic Marjorie. This blend will not only elevate the hospitality experience but also pay homage to Penang's cultural tapestry, thereby positioning it as a premium destination for discerning travellers and investors alike.
Ladies and gentlemen,
In the spirit of progress and investment, we commemorated the 50th anniversary of Penang's industrialization journey last year. Since the Pakatan administration took office in 2008, Penang has attracted an impressive total of nearly RM200 billion in approved manufacturing investments. Today, our beloved state proudly wears the badge of the "Silicon Valley of the East," hosting a multitude of foreign investors, particularly in Bayan Lepas, the very location of Iconic Marjorie. However, we remain vigilant, understanding that a dynamic and ever-evolving landscape requires continual efforts.
Collaboration is the bedrock of our progress. Through coordinated efforts with state agencies such as InvestPenang and the Penang Development Corporation (PDC), alongside our partners at the federal level, including the Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA), we strive to engage investors and catalyse new projects. Our goal is to foster a sustainable investment ecosystem in Penang that will yield benefits for generations to come.
In fact, under the Penang2030 Vision, we aspire to diversify investment inflows in Penang beyond manufacturing foreign direct investments (FDI), venturing into other thriving economic sectors, including the high-end tourism industry. Our vision is to ascend the value chain, targeting discerning tourists and travellers with higher spending power.
Allow me to elaborate a little on this pivotal aspect.
Recent studies, such as one by Círculo Fortuny conducted on Spain, as one of the leading tourism destinations in the world, have shed light on the immense potential of high-end tourism. The discerning high-end tourists exhibit substantial spending capacity compared to traditional travellers. They spend three times more on accommodation and transport, four times more on restaurants and five times more in total.
This presents a tremendous opportunity for tourist destinations including Penang, and to seize this, our industry must raise its standards by offering bespoke experiences, products and services. Partnerships world-renowned companies and brands, such as Marriott will be crucial in achieving this aspiration. In fact, I would like to highlight that Iconic Marjorie will be Marriott's second Tribute Portfolio hotel in Penang, with the first, Lone Pine in Batu Ferringhi, having opened its doors in July earlier this year.
Considering that Marriott is a truly global force in the luxury hotel industry, I believe its expanding presence here is a testament to Penang's position as Malaysia's primary tourism gateway. After all, Penang has much to offer to tourists from around the world. Our beloved Penang boasts a rich tapestry of culture, diverse cuisine, and unique architecture, all underpinned by a steadfast commitment to preserving our heritage.
It is no surprise that our tourism industry has exhibited a robust V-shaped recovery from the pandemic, and we anticipate a complete rebound by the end of this year. New hotels are opening their doors, and existing ones are rejuvenating their brands. As we continue to improve our infrastructure, world-class attractions, and hospitality, I am confident that Penang will not only become a must-visit destination in the country, but also on the worldwide stage.
In conclusion, I would like to express my gratitude once again to Iconic Penang and Marriott International for their vision and investment in Penang. The collaboration between local entities like Iconic Penang and international giants like Marriott signifies a promising future for our state. Iconic Marjorie, with its unique blend of culture and modernity, will undoubtedly contribute to Penang's reputation as a global tourist destination.
As we move forward, let us stand united in our efforts to elevate Penang's tourism sector to greater heights. Let us continue to attract investments, forge partnerships, and innovate in our offerings to the world. Together, we can build a future where Penang stands as a beacon of hospitality, a melting pot of cultures, and a hub of economic growth in line with its vision of ‘A Family-Focused Green and Smart State that Inspires the Nation.’
With that, I thank you all, and may Iconic Marjorie mark the beginning of a prosperous journey for Penang's tourism and hospitality industry.