The company's executive director Eric Chan Kok Leong said the boutique hotel's current haul of 50 rooms is set to be expanded by an additional 40 sea-fronting guest rooms.
"We have commenced on an active, tactical marketing and publicity campaign globally via our travel trade partners, airlines and online room reservations portals," he told Business Times in Penang.
"In addition to our loyal guests who are eagerly awaiting the opening of the new Lone Pine, we can expect well-heeled business and leisure travellers who will pay above industry rate; a large proportion of guest demographics stemming from Europe," Chan added.
The design feature of the refurbished property will ensure that while the new Lone Pine retains its quintessential character and colonial charm, which is dotted with its signature casuarina trees, amenities such as a wellness spa and gym, additional restaurant and E&O operated boutique selling hotel mementos and sundry items, along with a business centre will be featured.
On Penang island, E&O also owns the 125 year-old Eastern & Oriental Hotel, where the company is investing RM150 million in constructing the 15-storey E&O Hotel Annexe.
In July 1998, Lone Pine Hotel was closed for renovation and refurbishment and reopened in March 1999.
Its refurbishment was an exercise in old-fashioned subtlety, where some rooms were fitted with authentic antique lamps, dressing tables and closets.
When the hotel opened in 1948, it only boasted 10 rooms and stood out as the first beach hotel on the Batu Ferringi tourism belt.
The guests were mainly British residents in Malaysia and sailors during their port calls.
"With the ongoing construction of the new E&O Hotel annexe, as well as the upcoming relaunch of the Lone Pine," Chan said, "the E&O Group's calendar of hospitality activities and events till the end of next year will be filled to capacity."
"The E&O Group is fully committed to investing and managing the two existing hotels and ensuring brand and profit sustainability," he added.
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