PETALING JAYA: YTL Hospitality Real Estate Investment Trust (YTL-REIT) is proposing to develop a hotel in Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido, Japan for an estimated total development cost of RM199mil.
In a filing with Bursa Malaysia, YTL REIT said it is developing a five-storey hotel with a two-storey basement under the Moxy brand, which is a segment of Marriott’s millennial-focused brand (Moxy Niseko).
“Moxy Niseko will have 310 rooms and a gross floor area of 10,354 sq m upon completion.”
The hotel will be leased to YTL Corp Bhd
under a variable rental arrangement.
