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YTL Corp, Marriott plan two new hotels in Kuala Lumpur

YTL

KUALA LUMPUR (Dec 5): YTL Hotels & Properties Sdn Bhd, the hospitality arm of YTL Corp Bhd, will be teaming up with long-term partner US-based Marriott International Inc to build two new luxury hotels here.

Management agreements were signed between the two parties today for the design and development of hotels under the JW Marriott brand in Kuala Lumpur Sentral and the Edition, which will be located near Kuala Lumpur City Centre (KLCC).

According to YTL Hotels & Properties executive director Datuk Mark Yeoh, the design and approval of the hotels may take about 18 months, with construction likely to take another two to three years to complete.

As such, the JW Marriott in KL Sentral, which will sit on five acres of land owned by YTL there, may see completion in 2021, Yeoh said.

Memoranda of Understanding for the development of two luxury hotels in YTL Hotels & Properties' Niseko Village in Hokkaido, Japan were also signed with Marriott International today. These will see the development of the W Hotel and the Edition there.

The agreements were signed by Yeoh and Craig Smith, president and managing director of Asia-Pacific for Marriott International. They were witnessed by YTL Corp managing director Tan Sri Dr Francis Yeoh and Marriot International president and chief executive officer Arne Sorenson.

According to Sorenson, Marriott International is seeing the highest percentage growth of new hotels in the Asia-Pacific.

Francis said YTL Corp's 20-year relationship with Marriott International has been key to the former's growth, with 11 Marriott hotels in YTL Hotels & Properties' portfolio of 32 hospitality assets.— theedgemarkets.com

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