YTL in expansion mode, eyes acquisitions

YTL Hotels, the hospitality arm of Malaysian conglomerate YTL Corporation Bhd (YTL group), is on the prowl to acquire more assets with the eventual goal of injecting them into the global hospitality Reit sponsored by the YTL group.

One of its existing properties that already looks ripe to be spun into the Reit is The Majestic Hotel Kuala Lumpur, a three-year-old property that derives 60 per cent of revenue from restaurants and banquet operations.

"We should be looking at Reit-ing it very soon," said Mark Yeoh, executive director of YTL Corporation Bhd and director of YTL Hotels.