YTL Hospitality REIT’s acquisition of Syeun Hotel to boost NPI by 1% — AmInvestment
In a note on Thursday, the research house maintained its "buy" call on the REIT following its acquisition, with a higher fair value (FV) of RM1.
In a note on Thursday, the research house maintained its "buy" call on the REIT following its acquisition, with a higher fair value (FV) of RM1.
YTL REIT boasts a total of 10 hotel properties in Malaysia, including hotel chains such as JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur and The Ritz Carlton Hotel Kuala Lumpur.
With the three upcoming properties, ONYX will have a total of seven properties in its Malaysian portfolio as it currently manages Amari Johor Bahru, OZO George Town Penang, Amari SPICE Penang and Amari Kuala Lumpur.
There will be two new Shama properties in China (Shama Hub Metro South Hong Kong and Shama Hub Qiantang), two in Malaysia (Shama Medini Malaysia and Shama Suasana Johor Bahru) and one in Thailand (Shama Luxe Sathorn).
YTL Corp also operates in the hotels segment through YTL Hospitality REIT, where it holds a 55% direct and a 3.
Revenue increased by 49.
Hotel Stripes Kuala Lumpur, Autograph Collection is a five-star hotel, located along Jalan Kamunting in Kuala Lumpur.
The property segment’s revenue was driven by higher property progress billings coupled with the disposal of several parcels of land.
On prospects, the REIT expects the hospitality industry to stay relatively buoyant amidst risks of higher inflation, interest rate hikes, and other economic challenges.
Its property investment and development saw loss before tax narrowed due to the absence of a rental deferral programme which ended June 30, 2022, and the absence of unrealised foreign exchange loss on borrowings denominated in foreign currencies by YTL Hospitality REIT.