YTL Hospitality REIT buys Majestic Hotel Kuala Lumpur from YTL Corp.

Majestic Hotel Kuala Lumpur

YTL Hospitality Real Estate Investment Trust has acquired the Majestic Hotel Kuala Lumpur from parent company YTL Corp. for RM380 milllion in cash.

In a filing with Bursa Malaysia, trust manager Pintar Projek said that upon completing the deal, the property would be subleased to the vendor for 15 years with an option granted to the vendor to renew for a further 15 years. The proposed purchase was expected to be completed by the end of the third quarter of 2017.

“The sub-lease arrangement will provide YTL REIT with a steady and secure income stream and is expected to be accretive to the trust’s future distributable income and distribution per unit,” it said.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


The annual rental payments would be RM26.6 million for the first five years, RM27.93 million for the following five and RM29.33 million for the 11th year to 15th year.

The 300-guestroom hotel, formerly the historic Hotel Majestic, reportedly had an occupancy rate of 60.1 percent for the financial year ended June 30, 2016.

Properties under YTL REIT include the JW Marriott Hotel Kuala Lumpur, The Ritz-Carlton Kuala Lumpur, and the Sydney Harbour, Brisbane and Melbourne Marriott hotels in Australia.

Suggested Articles

This agreement provides Magnuson Hotels with access to Hotelbeds’ distribution network of more than 60,000 travel trade buyers.

The new Execuvue has a completely redesigned user interface, making the customized reporting and data-gathering tool more intuitive.

The pandemic has shown how our industry can take advantage of online interactions and how we can support our virtual-reliant guests.