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Business

Low Yat enters Japanese hospitality market

Fairlane Hospitality, the hospitality arm of property developer Low Yat Group, has tied up with Japan’s Tsuruga Group to widen its hospitality offerings in Niseko, Japan.

Business

MAHB ends JV deal with Atoz Hospitality

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has terminated the joint venture agreement with Atoz Hospitality Services Sdn Bhd to operate and manage a new airports hotel brand.

Business

YTL Hospitality REIT fourth quarter earnings 11% up

PETALING JAYA: YTL Hospitality Real Estate Investment Trust (REIT) recorded a 10.95% jump in earnings to RM67.55mil for the fourth quarter to June 30 on the back of the better performance of its Australian properties as a result of an increase in room sales following the completion of a refurbishment exercise.

Business

Sovereign wealth funds eye hospitality assets in India

NEW DELHI: In one of the biggest deals in the Indian hospitality industry, sovereign wealth funds of Abu Dhabi, Qatar and Malaysia are vying with each other to acquire two of India’s marquee properties for about US$322mil (RM1.06bil), according to a news report.

Business

Thai FCL eyes US$473mil hospitality REIT

SINGAPORE: Frasers Centrepoint Ltd (FCL) , a company controlled by Thai billionaire Charoen Sirivadhanabhakdi, is looking to raise up to S$600mil through the listing of a hospitality real estate investment trust in Singapore in the second quarter, sources said

Business

Impiana set for expansion in hospitality business

PHUKET: Bio Osmo Sdn Bhd, soon to be renamed as Impiana Hotel Bhd (Impiana), is embarking on a multi-million ringgit expansion of its hospitality business, following the proposed acquisition of five companies for nearly RM426mil.

Business

WCT to focus on hospitality, shopping malls

KLANG: WCT Bhd will focus on new growth in its hospitality and shopping mall divisions. Plans are also underway to have a mall in Johor and another in Petaling Jaya.

Business

Blackstone, Gaw Capital weigh bids for Ascendas Hospitality Trust

SINGAPORE: Private equity investors Blackstone Group LP and Gaw Capital Partners are weighing separate bids for Singapore's Ascendas Hospitality Trust, people familiar with the matter said, eyeing a target with a market value US$600 million.

Business

Westin crowns Ireka involvement in hospitality sector

WITH RM350mil investment in, and ownership of, Kuala Lumpur#039;s latest 5-star hotel The Westin, Kuala Lumpur, Ireka Corporation Bhd has taken a firm step into the leisure and hospitality sector and adding to its involvement in construction, property development and e-commerce.

Business

Chief of Swiss hospitality company detained in World Cup probe

RIO DE JANEIRO: Police in Rio de Janeiro on Monday arrested the chief executive of a Swiss hospitality and ticketing company in connection with an ongoing investigation over VIP ticket scalping at the World Cup.