Tropicana Corporation Berhad is strengthening its long-term growth strategy by expanding into hospitality and recurring income businesses, positioning itself as a more diversified real estate platform while enhancing the value of its integrated townships.
A key milestone in this strategy is the group’s partnership with Accor to introduce Malaysia’s first branded Accor condotel, Mercure Living Genting Highlands, at Tropicana Grandhill. The development is designed to combine internationally recognised hospitality standards with professionally managed property services, offering homeowners investment opportunities alongside lifestyle benefits.
Tropicana said the collaboration reflects its vision of creating integrated communities where residents can live, work, play, learn, shop and stay within thoughtfully planned townships. As consumer preferences shift towards experience-driven developments, the company aims to generate stronger recurring income through hospitality operations, rental management, lifestyle services and strategic asset management, complementing its traditional property development business.
Image: Tropicana Corporation Berhad
Group Chief Executive Officer Dennis Ng said Tropicana is evolving its business model to create a stronger and more balanced platform for long-term growth.
“For more than four decades, Tropicana has established itself as one of Malaysia’s leading township developers. As the market continues to evolve, we are equally evolving our business model to create a stronger and more balanced platform for long-term growth,” he said.
He added that the collaboration with Accor demonstrates how global hospitality partnerships can unlock new value from developments while creating professionally managed lifestyle assets that benefit homeowners, investors and communities.
Accor’s Chief Operating Officer for the Premium, Midscale & Economy Division in Asia, Garth Simmons, said the project will strengthen the group’s extended-stay portfolio in Malaysia as demand grows for accommodation that combines flexibility, comfort and authentic local experiences.
Image: Tropicana Corporation Berhad
Meanwhile, Accor’s Chief Development Officer Asia, Andrew Langdon, said Genting Highlands continues to gain recognition as one of Asia’s leading tourism destinations, adding that Mercure Living Genting Highlands, which will be the largest Mercure Living development globally, is expected to set a new benchmark for branded extended-stay hospitality in Malaysia.
The company plans to replicate this hospitality-led model across selected developments including Tropicana WindCity in Genting Highlands, Lido Waterfront Boulevard in Johor, Tropicana Cenang and future coastal and resort-oriented projects in Genting Highlands, Johor and Langkawi. It is also exploring diversification into digital infrastructure and other recurring income platforms.
Supporting this transformation are Tropicana’s digital platforms, T360 and T Journey, which integrate smart property management, lifestyle content, loyalty rewards and professionally managed rental services to enhance customer engagement and create additional service-based revenue opportunities.
Tropicana said these initiatives align with its OneTropicana vision of “Connecting Communities, Forging Futures”, enabling the group to build future-ready townships while strengthening earnings resilience through more diversified revenue streams.
Mercure Living Genting Highlands, scheduled to open in 2028, has a gross development value of RM1.06 billion and will comprise 1,443 fully furnished units. Facilities will include an all-day dining restaurant, executive lounge, heated swimming pool, fitness centre and other lifestyle amenities. The development has already achieved an 88 per cent take-up rate.
Managing Director of Marketing & Sales and Business Development Ixora Ang said homeowners will automatically receive Gold membership in the ALL Accor loyalty programme, giving them access to benefits across Accor’s global network while enjoying professionally managed branded residences with stronger long-term investment potential.
THE BRUNEIAN | BANDAR SERI BEGAWAN
