The 36-storey Holiday Inn & Suites Penang Prai in Juru Sentral, Seberang Perai, is reportedly up for sale less than two years after opening, according to a report by The Edge.
Industry observers told The Edge that the freehold hotel has been on the owner’s radar for a potential sale since late 2025, with an asking price understood to be between RM220 million and RM230 million. At the upper end of the asking range, the property would be valued at about RM693,000 per room based on its 332-room inventory.
Located within the integrated Juru Sentral development, the hotel opened in early 2025 and is managed by InterContinental Hotels Group (IHG) under the Holiday Inn brand. The development also comprises a condominium tower, studio suites and retail units, while the same owner-developer holds the adjacent Citadines Prai Penang.
The hotel was first announced in 2016, when IHG signed a management agreement with Exopuri Development Sdn Bhd. It was originally planned as a 288-room hotel with an estimated development cost of RM117 million and targeted for completion in 2019. The completed property eventually opened with 332 rooms.
According to an industry observer quoted by The Edge, the hotel’s average occupancy is currently slightly above 50%. While this is not considered unusual for a relatively new hotel still building its customer base, the property’s location highlights the different demand dynamics between mainland and island hotels in Penang.
Situated within the Juru industrial corridor, the hotel primarily caters to corporate travellers, contractors and professionals working with manufacturing companies and multinational corporations in the surrounding area. This creates stronger weekday demand, while leisure demand and occupancy tend to soften during weekends.
The hotel is approximately a 30-minute drive from Penang International Airport.
