KUALA LUMPUR, Dec 19 ― Hilton Kuala Lumpur in KL Sentral has been sold to Daito Trust Construction Co Ltd, the owner of Le Meridien KL ― that is located right beside the five-star hotel.
The Edge Financial Daily reported that Japanese billionaire Katsumi Tada had sold the luxury hotel for ¥13.7 billion (RM497 million) to Daito, which he had also founded back in 1974 but has left in 2011.
The business daily said Daito had informed Tokyo Stock Exchange on Friday that it was buying Tada-linked Daisho Asia Development (M) Sdn Bhd, which owns Hilton KL.
The report said the 503-room Hilton KL was bought below market expectations with a price tag of RM988,000 per room.
Daisho Asia is wholly-owned by Daisho Development Singapore Pte Ltd. The Daisho Group had bought the land where Hilton KL is situated in 1996, before it started operations in 2004.
Meanwhile, Daito owns Daito Asia Development (M) Sdn Bhd, which in turn owns Le Meridien KL, which opened its doors the same year as Hilton KL.
Hilton International has been managing Hilton KL and its contract will end in 2019. It is unclear whether Daito will continue the contract.
Hilton KL occupies a space of 12,342.4 sq m, with 35 storeys, 10 food and beverage outlets, and nine function rooms.
