YTL Hotels is planning global expansion following the appointment of James McBride as president.
The company owns and manages several luxury resorts and hotels, including Ritz-Carlton Kuala Lumpur and Spa Village Resort Tembok, Bali.
McBride, who is former managing director of The Carlyle in New York, said the company is entering an acquisitions period.
“We have been waiting for the right time to boost our hotels portfolio. With our solid cash position, amid the economic downturn, now is the time for YTL Hotels to take that step.
“We are keeping an eye out for brands that have lost their lustre and we will buy them and renovate them.”
A 16-room boutique hotel is currently under development in St Tropez and is due to open next summer.
“This will be our first foray into Europe. We will be looking for more opportunities, especially in London and Paris,” said McBride.
New projects are already underway in Kuala Lumpur and Shanghai, as well as a development on the Malaysian island of Pulau Tiga, which has been dubbed ‘Survivor Island’ since it was used on the television programme.
Agents who book a five-night reservation at one of the YTL Hotels through Kuoni can earn a £15 high-street voucher. The bookings must be made before October 21 for travel before March 31 2010. The booking can include a combination of YTL properties.