News about hotel

​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.

The shares represent a 19.

Notably, Impiana Hotel was in the spotlight in August this year after it saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following the duo’s acquisition of 120.

In a bourse filing, ECM Libra said it has, through its subsidiaries, on Thursday (Nov 23), inked a business purchase agreement with the vendors Castle Street Liverpool LLP and CSL Opco Ltd to acquire the two leasehold assets that are located on the popular Castle Street.

Revenue increased by 49.

Iconic Group chairman and Iconic Penang director Datuk Seri Tan Kean Tet said the collaboration with Marriott signified the group’s effort to expand its presence in the hotel industry.

The existing property is a luxury condominium with a gross development value (GDV) of RM820 million.

In a Bursa Malaysia filing on Tuesday, YTL REIT said the lessees of its AC hotel chain are agreeable to the increase in annual rental for all three hotels amounting to a collective RM2.

The company said Lee and his spouse Datin Seri Joanne Yew Hong Im are currently the group’s largest substantial shareholders, with 120.