News about hotels

Hotels for sale in the secondary market is not an everyday occurrence.

SINGAPORE (July 5): The Ascott, a wholly owned subsidiary of CapitaLand, this morning announced that it is acquiring an additional 60% stake in Quest Apartment Hotels for A$180 million (S$191 million or RM594 million).

KUALA LUMPUR (May 5): ECM Libra Financial Group Bhd has identified hotel management and ownership as its new core business after disposing of its investment banking and securities business in 2012.

KUALA LUMPUR (April 7): The new tourism tax bill that was just passed is expected to affect KLCCP Stapled Group, which owns Mandarin Oriental Kuala Lumpur Hotel that is already facing a challenging environment.

PETALING JAYA (April 4): Paramount Corporation Bhd today announced the development of the hotel component in its integrated development in Shah Alam, Utropolis Glenmarie.

PETALING JAYA (March 21): Property developer Yong Tai Bhd is planning two new developments with an estimated gross development value (GDV) of RM2.

KUALA LUMPUR (March 17): Element Kuala Lumpur, the first hotel in Southeast Asia under Element Hotels by Marriott International Inc, is slated to open for business in April 2017.

Luxury hotel operator Fairmont Hotels & Resorts, now part of the AccorHotels Group, has announced the signing of definitive agreements for the revitalisation and management of the historic Century Plaza Hotel, located in the heart of Century City in Los Angeles.

PETALING JAYA (Jan 23): China has hit record sales of US$33 billion (RM146.

KUALA LUMPUR (Jan 20): Ho Hup Construction Co Bhd has appointed InterContinental Hotels Group (Asia Pacific) Pte Ltd (IHG) to manage its new Crowne Plaza Kota Kinabalu Waterfront hotel in Kota Kinabalu, Sabah.