Iconic Marjorie Hotel Sets the Pace for M.I.C.E Industry Growth in Penang

Published on January 24, 2025

Iconic Marjorie Hotel in Penang targets the booming M.I.C.E sector, aiming to boost occupancy and set new sustainability standards.

Iconic Worldwide Bhd has recently unveiled the Iconic Marjorie Hotel in Bayan Lepas, Penang, positioned perfectly to leverage the vibrant M.I.C.E sector and the burgeoning trend of business-cum-leisure travel.

Kevin Cheah, the Group General Manager, stated that the hotel, a member of the Tribute Portfolio under Marriott International, is set to boost its current 20% occupancy rate to 60% by the year’s end and aims for over 80% in the following year.

The growth forecasts are supported by Marriott Bonvoy, a leading hotel loyalty program that offers rewards across more than 7,000 hotels globally.

Cheah highlighted the promising growth in the Asia-Pacific travel sector, with Malaysia, especially Penang, showing considerable progress. The region benefits from increasing direct flights, notably from China and India, enhancing its tourist appeal.

The Iconic Marjorie Hotel, a RM180 million project, is the Iconic Group’s second venture following the Iconic Hotel in Seberang Perai, which started in 2016. Situated next to the Iconic Regency—a new freehold serviced residence—the hotel enjoys a prime spot in Sungai Nibong, a key commercial hub in Bayan Lepas known as the “Silicon Valley of the East” for its tech industry clout.

The hotel is distinguished as the first in Penang to secure a Gold standard in the globally acclaimed Green Building Index rating system, setting a new benchmark for sustainable and eco-friendly hospitality practices. These initiatives align with the Iconic Group’s commitment to sustainability and responsible real estate development.

Beyond providing accommodations, Cheah noted that the Iconic Marjorie Hotel is actively pursuing the MICE market with its comprehensive facilities, aiming to become a top choice for travelers seeking both business and leisure amenities.