DoubleTree hotel in KL sold for RM388mil

The Intermark development is made up of the Intermark mall, DoubleTree by Hilton (in the background), and office buildings Integra Tower and Vista Tower. Royal Group is said to have paid RM700,000 per room for the DoubleTree Hotel.

PETALING JAYA: Real estate tycoon Asok Kumar Hiranandani of the Royal Group has bought DoubleTree Hotel, the second parcel of The Intermark to be sold in a week.

The Singapore-based Royal Group Holdings, a property group which leans more towards the hospitality sector, bought the 540-room, four-star hotel for RM388mil, or about RM700,000 per room, a source from Royal Group Holdings said.