In 2016, a faded 1930s Art Deco building in Kuala Lumpur's Chinatown sold for RM29 million. Once the tallest building in the city, its architectural history had been completely obscured by commercial signboards and neglect. Justin Chen and his family's Singapore-based real estate group, Arcc Holdings, acquired the building and spent six years carefully determining its commercial future.

The result is Else, a 49-key boutique hotel that opened in September 2022 to fill a clear gap in the Malaysian hospitality market. Rather than importing foreign concepts, the property champions local creative talent through collaborations with Malaysian designers, chefs, and artists. Three years later, the hotel is operationally profitable, growing at a steady 15 to 20 percent year-on-year, and holds the rare distinction of being the only Malaysian property to earn both a Michelin Key and a spot on the Tatler Asia Top 100 Hotels list.

Justin joins us to discuss the financial realities of heritage hospitality, and what the group plans to build next now that they have successfully proven their concept.

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