Japan-based Daito Trust Construction Co., Ltd. (“Daito”) has acquired the 503-key Hilton Kuala Lumpur for RM497 million (RM988,000 per key) from Japanese billionaire, Katsumi Tada, through the acquisition of Daisho Asia Development (M) Sdn Bhd (“Daisho Asia”), which owns the hotel. Daito, a company founded by Tada in 1974, also owns the Le Meridien Kuala Lumpur, located adjacent to the Hilton in Kuala Lumpur Sentral. Tada is said to have cut ties with Daito in 2011. The 35-storey hotel, with ten F&B outlets and nine function rooms, occupies approximately 12,300 square meters of freehold land with a gross floor area of 53,700 square meters, exclusive of the carpark. Its 15-year management contract with Hilton is also set to expire in 2019.
HVS APAC HOSPITALITY NEWSLETTER.