News about hospitality

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.

YTL Hospitality Real Estate Investment Trust's (YTL REIT) net property income (NPI) rose to RM66 million in 2QFY23 from RM55 million in the preceding quarter, while income available for distribution increased to RM27 million from RM17.

"The group's plans to expand its New York gaming operations under Genting Malaysia Bhd may affect its credit quality, but such developments, including the timing and funding structure of the investment, ultimately hinge on the awarding of the casino licence, which remains uncertain at this point.

On prospects, both GenM and Genting remain cautiously optimistic about the near-term outlook of the leisure and hospitality industry and remain positive in the longer term.

At the operating level, Tropicana recorded profits of RM61.