Concorde Hotel Kuala Lumpur Confirms It Is Not Up For Sale
The hotel stated that its business is performing well and shareholders are satisfied with its direction.
By Yap Wan Xiang — 12 Sep 2024, 10:04 AM
The owners and shareholders of Concorde Hotel Kuala Lumpur have stated that the four-star hotel on Jalan Sultan Ismail is not up for sale
In a statement to SAYS, the management emphasised that the 581-room hotel intends to continue serving its loyal guests.
"Our business is performing exceptionally well and we are seeing strong results. Our shareholders are satisfied with our progress and the direction we are taking.
"We remain focused on enhancing our services and expanding our offerings to better serve our valued clientele. We appreciate the continued support and look forward to welcoming guests for many years to come," it said.
Last week, a media report citing sources claimed that Concorde Hotel Kuala Lumpur was on the market with a price tag of RM700 million
It was reported that if a buyer is found, the building is expected to be demolished to make way for a multibillion-ringgit integrated development.
The hotel is linked to Singapore-based Malaysian tycoon Ong Beng Seng, who owns 30% of the hotel through his Singapore-listed Hotel Properties Ltd. Sultan of Selangor Sultan Sharafuddin Idris Shah and entrepreneur Tan Sri Syed Yusof Syed Nasir collectively own a part of the hotel.
Established in 1957, the four-star hotel was formally known as Merlin Hotel before changing its name to Concorde Hotel in 1990.
Under its new name, it has served customers for over 33 years and aims to continue its legacy.
