Earlier this year, Sunway Hospitality Group appointed Alex Castaldi as its new CEO. Formerly the Chief Operating Officer of the group and General Manager of The Banjaran Hotsprings Retreat, Castaldi has had his fair share of experience as a part of the conglomerate’s growth. But the CEO’s portfolio doesn’t stop there. Over the years, he has managed numerous hotels and resorts across Asia and Middle East, including luxury brands such as Banyan Tree, Anantara, and Jumeirah.
After a globe-trotting career, Castaldi ultimately found something unique in this Malaysian-grown brand. “To tell you the truth, did I know then that I would stay this long in Malaysia? No,” he admits. With time, he came to understand the ambitions of Sunway Group and its goals that exceed those of a standard hospitality company. “While hospitality is a good part of the business, it’s also not the primary part of the business,” Castaldi states.
“Sunway Group has a very diverse ecosystem,” he continues. Its hotels and resorts outpace competitors by being a part of an integrated township, complete with malls, hospitals, universities, and theme parks. “We realise our hotels do really well when they are supported by more of the business that Sunway Group runs.”
In his previous roles, Castaldi was instrumental in the transformation of Sunway Resort Hotel and successfully repositioned The Banjaran Hotsprings Retreat as a premier destination for wellness and gastronomy. Now, as the CEO of Sunway Hospitality Group, he is quick to kick off the next phase of expansion. “We plan to open four more hotels in Malaysia,” he says. According to Castaldi, the group is building a brand-new property to replace the current Sunway Hotel Seberang Jaya in Penang. The hotel will be built on top of Sunway Carnival Mall, reaffirming the brand’s strategy of an all-in-one destination. “When the new hotel is ready in about two and a half years, the current hotel will be provided to our Sunway Medical Centre in Penang for its expansion,” Castaldi says.
In addition to The Banjaran Hotsprings Retreat and Sunway Lost World Hotel in Ipoh, the group has invested RM2 billion into the development of a 1.5 million square feet shopping mall in the city. “Together with the shopping mall, we are also building a new hotel in Ipoh,” Castaldi says. “This should be ready within the next two to three years.”
As Johor rises as the next economic powerhouse of Malaysia, the Sunway Hospitality Group has already made its moves on this region’s hotspots. “We have already started building a second Banjaran resort in Sunway City Iskandar Puteri,” Castaldi says. “Within our 2,000ac of land there, we have a beautiful stretch of the Pendas River with natural mangroves—an untouched piece of nature. We plan to build the resort around the mangroves.” The resort is expected to open within the next two to three years as well.
Meanwhile, in Bukit Chagar, Johor, the group has earmarked USD600 million for its next ultra-luxury development. “It will follow standards very similar to what we’ve built here at Sunway Resort,” he notes. “This will be a 500-room hotel, with 300 guest rooms and 200 service suites, along with a rooftop bar and swimming pool. It will be approximately 60 floors, including the podium levels.”
As for the group’s international properties in Vietnam and Cambodia, final decisions are still underway. Nonetheless, first steps are already being taken in Phnom Penh as the group gradually gains a foothold in the market through new investments for residential towers. “As we move into the next decade, we will look to grow beyond Malaysian borders. Having presence within the top cities in Asia would be interesting,” Castaldi states. “Never say never. It’s not something we are planning today. For now, we’re focused on strengthening our presence in Malaysia, where we’ve already built quite an incredible business.”
