Steady income stream: The 300-room hotel had an occupancy rate of 60 for the financial year ended June 30, 2016.
KUALA LUMPUR: YTL Hospitality Real Estate Investment Trust (REIT) has acquired another five-star hotel, the Majestic Hotel Kuala Lumpur, from parent company YTL Corp Bhd
for RM380mil in cash.
In a filing with Bursa Malaysia, Pintar Projek Sdn Bhd (the manager of the trust) said the property, on completion of the proposed acquisition, would be subleased to the vendor for 15 years with an option granted to the vendor to renew for a further 15 years.
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