SINGAPORE (Nov 22): Aspen Group and its joint venture (JV) partner IKEA Southeast Asia have inked a memorandum of understanding with Marriott International, appointing Aloft Hotels as the hotel operator for Aspen Vision City.

Aspen Vision City is a landmark JV development between Aspen and IKEA Southeast Asia. It spans across 245 acres of freehold land in Batu Kawan, Penang, Malaysia, and has a gross development value of more than RM13 billion ($4.27 billion).  

Slated for completion in 1Q 2023, the 260,000 sq ft Aloft-branded hotel will be part of a mixed development within Aspen Vision City. Its amenities and facilities include a swimming pool, fitness centre, meeting rooms, ballrooms, restaurants and bar. 

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