KUALA LUMPUR: Co-living space and hotel chain operator Swing & Pillows has bought five hotels on Jalan Bukit Bintang to be part of its Kingston brand of hotels.
Corona Inn, Hotel Sungei Wang and Metropol Hotel are three of the hotels it bought.
The recent acquisitions are expected to provide an over RM60 million boost to its revenue by the end of 2024.
Swing & Pillows, powered by iBilik, was established in May 2022 and currently runs 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 use and creating steady alternative revenue streams.
"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," Swing & Pillows chief executive officer Ken Lee said in a statement.