Magma and KLCC Holdings Sells Impiana KLCC for MYR315 Million in Kuala Lumpur, Malaysia
Malaysia-based Magma Group Bhd (“Magma”) and Malaysia-based KLCC Holdings Sdn Bhd (“KLCC Holdings”) are divesting their combined 100% stake in Heritage Lane Sdn Bhd, the holding company of the 519-key Impiana KLCC Hotel to Malaysia-based Harum Aspirasi Sdn Bhd (“Harum Aspirasi”) for MYR315 million. This translates to approximately MYR607,000 per key, exceeding the hotel’s market value of MYR300 million. Harum Aspirasi, is majority-owned by the Valiram family, known for their luxury retail ventures in Southeast Asia. The sale is expected to generate a MYR20 million gain for Magma, with proceeds allocated towards loan repayment, business support and other costs. Impiana KLCC Hotel features four food and beverage outlets, a spa, fitness centre, a swimming pool, a club lounge, and nine meeting spaces. Located in the heart of Kuala Lumpur, it is a six-minute walk from Kuala Lumpur Convention Centre and an eight-minute walk from the Petronas Twin Tower.
Tang Shing-bor Family Sells Yo Hotel for HKD53.2 Million in Mong Kok, Hong Kong
The Tang Shing-bor family has sold the 44-key Yo Hotel at 92 Hak Po Street, Mong Kok, for HKD53.2 million to an undisclosed buyer. This translates to approximately HKD1.21 million per key. The 11-storey property, around 61 years old, comprises a 102-square-metres (“sqm”) ground-floor shop, with a total gross floor area of about 920 sqm, translating to a sales price of HKD57,826 per sqm. The property is located 7-minute away from the Mong Kok East MTR Station, and 1-minute away from the Hong Kong Playground Association MacPherson Stadium. The property was acquired by the family in 2013 for HKD100 million, implying an estimated book loss of HKD46.8 million, or roughly 46.8%.
Mercure Warragul Sold for AUD9.95 Million in Warragul, Australia
The 47-key Mercure Warragul in Victoria, Australia has been sold for AUD9.95 million. The buyer and seller details are undisclosed. This translates to approximately AUD211,700 per key and reflects a 7.3% yield. The four-level hotel, developed ten years ago, features a restaurant, lobby lounge, business centre, fitness centre, and two meeting rooms. France-based Accor S.A. operates the property under a lease expiring in 2035, with options allowing the lease to extend until 2060. Located within the main commercial precinct of Warragul, the hotel forms part of a mixed-use development on the corner of Mason and Williams streets. The property is a four-minute walk from Warragul Station, while the West Gippsland Arts Centre is a seven-minute walk away.
Koshidaka Holdings Sells Atsugi Vista Hotel in Kanagawa, Japan
Japan-based Koshidaka Holdings Co., Ltd (“Koshidaka Holdings”) is selling 165-key Atsugi Vista Hotel for an undisclosed amount to an unnamed buyer. This transaction is expected to generate a gain of approximately JPY0.9 billion for Koshidaka Holdings. The hotel sits on approximately 786 sqm plot and spans a total gross floor area of about 3,862 sqm. Hotel facilities include a restaurant, a laundrette and offer chiropractic services. Located in Atsugi City, the property is a three-minute walk from Hon-Atsugi Station and the Atsugi Ichibangai Shopping Street.
Genting Hotel Jurong Rebrands as Four Points Sheraton Singapore, Jurong in 2026
Genting Hotel Jurong will be rebranded as Four Points by Sheraton Singapore, Jurong in early 2026 through a partnership between US-based Marriott International, Inc. (“Marriott”) and Resorts World Sentosa, which is wholly owned by Malaysia-based Genting Group. The property will feature an all-day dining restaurant, an outdoor pool, fitness centre, and 720 sqm of flexible function space for corporate and social events. Located at 2 Town Hall Link in the Jurong Gateway precinct of Jurong Lake District, the hotel is within walking distance of Science Centre Singapore and nearby malls Jem, Westgate and IMM. This is the second collaboration between Marriott and Genting Group in Singapore, followed by the rebranding of the former Hard Rock Hotel, Singapore, to the 183-key The Laurus, a Luxury Collection Resort, Singapore, which has recently opened on 1 October 2025.
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