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The clauses ban the hotels from offering rooms on their websites at a lower rate and are seen by them as illegal.

The renovation will take 18 months and is slated for completion in December 2026.

The MOF added that if hotels proceed to raise rates on the pretext of the SST, the government, through the Ministry of Domestic Trade and Cost of Living (KPDN), will examine the matter to prevent unreasonable price increases.

SUNDAY Hotel was originally launched in May 2023 in India by a joint venture between Softbank and Oravel Stays.

Post-acquisition, the hotels will comprise approximately 5.

This follows reports earlier this month that Zahid said an individual, whom he did not name, had not signed documents to release his trustee responsibilities over a party asset.

A case management was held on Thursday before senior assistant registrar Nur Shasha Hidayah Nor Azhar, where a representative from the Attorney General’s Chambers had entered an appearance for the FT Land and Mines Department.

After acquiring two premier hotels namely Banyan Tree Hotel and Pavilion Hotel in Kuala Lumpur for a sum of RM480 million.

Pavilion REIT said the acquisitions align with its commitment to deliver premium offerings while capitalising on synergistic opportunities with Pavilion KL mall.

ISR 2030 outlines 12 strategic pillars driving IOI Properties' initiatives to address climate change, biodiversity, waste management, sustainable finance, supply chain management, employee well-being, and sustainability risks and opportunities.