Royale Chulan Bukit Bintang sold at RM177 million, 10% lower than original price



PETALING JAYA (Jan 18): Singapore-listed Hotel Royal purchased the Royale Chulan Bukit Bintang Hotel Kuala Lumpur at RM177.3 million, 10% lower than the original price tag of RM197 million, according to Hotel Royal’s filing with the Singapore stock exchange. 

Hotel Royal chairman Pang Eng Fong said that the final transaction price was reached on a willing buyer and willing seller basis after arm’s length negotiations. 

“It was also after taking into account the prevailing market conditions and the market value of the hotel,” the hotel group said. 

Owned by Boustead Group, Royale Chulan Bukit Bintang Hotel is located in the Bukit Bintang entertainment zone, and has faced increased competition within the Golden Triangle of Kuala Lumpur as well as online platforms such as Airbnb. 

The hotel was put up for sale in 2019 as part of the group’s overall plan to return to profitability by way of divesting non-strategic assets.

Get the latest news @

Subscribe to our Telegram channel for the latest stories and updates

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. DONE DEAL: Bungalow house at TTDI Hills, TTDI, Kuala Lumpur
  2. DONE DEAL: Serviced apartment, Nadi Bangsar Service Residence, Bangsar, Kuala Lumpur
  3. Sultan Sharafuddin calls for preservation of KL historical buildings related to Selangor