Kuala Lumpur, 5 July 2021: PETRA Riyaz will now operate a range of lifestyle-oriented hospitality brands, each exclusively crafted for a niche customer base – contemporary, premium or luxury travellers. The brands under the company include The Riyaz, dash, The Pure, Altara and Tan’Yaa.
This is following the completion of the acquisition by the PETRA Group of a 51.5% stake in Riyaz Hotels & Resorts. The value of the combined hotels and resorts is close to RM300 million.
PETRA Riyaz will operate signature resorts, including the 5-star luxury Riyaz Lavanya Resort & Villas and the dash Resort in Langkawi; the dash Box and Tan’Yaa Hotels in Cyberjaya; the dash Hotel Seminyak in Bali, Indonesia; and the Altara Suites by Riyaz in Danang, Vietnam.
PETRA Riyaz Chief Executive Dato’ Sri Shaheen Shah Sidek said, “I see a lot of positive synergies working with the PETRA Group as Datuk Vinod and I share the same vision and mission in the way we run our businesses. His passion for delivering best-in-class hospitality aligns with my dreams as we scale.
“PETRA Riyaz is already working on the expansion of its various hotel brands, despite these uncertain times created by the pandemic.
“I am very excited to have found the best people to execute the PETRA Riyaz expansion. I look forward to running our businesses believing in ‘DEVOTION’ – the Riyaz way while applying the concept of social capitalism – the PETRA way. I believe together it will lead us to triumph.” he added.
New resorts are already in the planning stages in Malaysia, Vietnam and the Maldives. The dash Hotel KLCC is slated to open at the beginning of 2023 while the group is also expanding its dash brand presence to Desaru in Johor Bahru, Penang and the Maldives.
Many hotels have been forced to close, either temporarily or permanently, due to the Covid-19 pandemic and implementation of the Movement Control Order.
Nevertheless, the PETRA Group Chairman and Chief Executive Datuk (Dr) Vinod Sekhar believes that a recovery in the tourism sector is imminent. “As soon as the pandemic is under control and vaccination is widespread, people will need to have a break, families will want to go on holiday together and companies will use hotels to reconnect with each other and reinvigorate their vision. We will to be ready to provide unique and memorable experiences to everyone through our various hotel brands.
“I believe we have an experienced team within PETRA Riyaz that are geared towards impeccable service delivery, technological innovations, and attention to detail to offer a unique and positive hotel experience to our guests.
“More importantly, we want the local tourism industry to thrive again and provide much needed jobs and income to the many that depend on the sector for their survival. On that note, we will do our part to ensure that there is no retrenchment of staff in any of the hotels despite the borders still being closed for as long as possible. In this matter the government, and governments have a critical role.” he added.