YTL Hotels acquires Thistle Johor, plans 2026 relaunch as five-star property

 

KUALA LUMPUR: YTL Corp Bhd's hospitality arm, YTL Hotels, has acquired the 380-room Thistle Hotel in Johor Bahru from GuocoLand Ltd in a RM150 million deal, underscoring its confidence in Johor's rise as a regional economic and tourism hub. 

The transaction, disclosed by GuocoLand in a Singapore Exchange filing, will see the Singapore-listed developer book a net gain of RM35 million (S$11 million) upon completion. 

YTL Hotels said the acquisition marks a strategic expansion milestone in Malaysia's fast-growing southern corridor, where Johor is being transformed by mega infrastructure projects, the Johor-Singapore Special Economic Zone, and increasing cross-border travel with Singapore. 

The 17-storey property located in Jalan Sungai Chat close to the city centre will undergo a full-scale refurbishment before reopening in 2026 as a five-star destination hotel featuring premium accommodation, curated dining concepts, modern event and meeting facilities, and lifestyle-oriented leisure offerings tailored for both international and domestic markets.

Executive chairman of YTL Corp, Tan Sri (Sir) Francis Yeoh, said the deal reflects the group's commitment to advancing Malaysia's tourism landscape. 

"Johor Bahru is a state of extraordinary potential, experiencing tremendous growth and transformation. We are proud to contribute to this momentum by introducing a new international hotel experience to the region. This investment represents our ongoing commitment to Malaysia's tourism landscape, delivering memorable stays that combine exceptional service with thoughtfully designed experiences," Yeoh said in a statement.

YTL Hotels currently owns and manages more than 35 properties with over 7,000 rooms across Malaysia, Thailand, Japan, Australia, France, the Netherlands, and the United Kingdom. The addition of the Johor Bahru property not only strengthens its Malaysian portfolio but also reinforces its standing as one of the region's most respected hospitality groups.

-nst online.