Bandar Seri Begawan - One of sultanate's oldest landmarks, the Brunei Hotel, is up for sale. Reliable sources said that several parties including Prince Abdul Qawi, the businessman son of the Brunei Foreign Minister, HRH Prince Mohamed has been mentioned as an interested party.
Business registry records show the hotel was founded in 1956 by a number of town elders, whose children today own the hotel.
"There are too many shareholders and sometimes it is difficult to arrive at decisions and so progressive changes cannot be made to the hotel easily," grumbled one shareholder recently. Quipped another, "It's the case of too many cooks spoiling the hotel's broth."
The main shares are in the hands of Yusof Holdings Sdn Bhd, a family foundation begun by one of the wealthiest men in Brunei, the late Pehin Orang Kaya Di Gadong Dato Hj Mohd. Yusof.
His son, Pehin Hussein, former minister of Culture, Youth and Sports and family members now hold a sizeable chunk of the shares.
Other share holders read somewhat like Who's Who in Brunei. They include the descendants of the late Dato Ong Kim Kee and his family. The late Dato Ibrahim former chief minister of Brunei, Kapitan Cina, the two Dato Lims and others are also included.
Brunei Hotel in Bandar Seri BegawanIt is understood most of the shareholders will relinquish their holdings in the event of a sale, including Yusof holdings but some may elect to retain their investment.
It is understood around B$5 million has been mentioned but no firm date of the sale could be obtained by BruDirect.com
The hotel stands strategically on two lots of land at the corner of the town centre. But the smallness of the lots has imposed constraints in the hotel providing parking facilities and other amenities like a swimming pool and a garden.
It's likely the hotel may undergo extensive renovation after the purchase, sources said. But to what extent or when it is going to be it is not known.
Refurbished a number of times, Brunei Hotel, known as the capital's grand old lady have been having low occupancy for some time. Billed as a three-star-hotel it enjoyed its heyday when it was the one and only place to stay in the capital those days.
The four-storey, 63-room hotel does not have a swimming pool or a large enough banquet hall to hold state functions or other modern facilities. But it has basic facilities such as air conditioning, satellite TV, IDD calls, mini bar and piped music and there is a restaurant which servers international menu.
In the past after a number of tries it failed to keep up with fast moving times and potential guests drifted away to other hotels. But later other hotels sprang up and it suffered further hard times even though it received several face lifts from time to time. But its location, in the town centre was unrivaled and it was the most convenient place to stay for many business travellers and tourists in the capital where taxis and public transport are hard to come by.
As the hotel has numerous shareholders most are not impressed by its lack luster performance in recent times.
Source was written by: Norazriza Mohammad Noh & Shamsul DP Suni
With Love: Amirul010
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