It aims to buy under-performing hotels and resorts internationally and turn them around, despite fears that the global economic turbulence may worsen next year (2009).
They have, in the last 10 years, successfully built a platform to where we are now. They are now entering a growth phase. Assets are getting cheap and there are a lot of opportunities to buy. Next year (2009) will be a hunting year followed by acquisition.
It has been approached by international hotel and resort owners with proposals to buy their properties, which are being studied now.
YTL, with its war chest of more than RM10 billion, is in a good position to pick up some quality assets at depressed prices following the global financial meltdown.
The group will acquire a few assets based on its cash flow position, and also, if the price is right.
Its current portfolio comprises resorts, city hotels and quality properties. Any acquisition will have to fit into the three segments.
YTL, through its hospitality arm YTL Hotels & Properties (YTLHP) Sdn Bhd, is involved in both ownership and management of properties, comprising a collection of internationally renowned, award-winning resorts, hotels and spas.
YTLHP owns Cameron Highlands Resort, JW Marriot KL, Spa Village Resort Tembok Bali, Villa Tassana in Phuket, and Bray House, Berkshire in the UK. It has also stakes in Majestic Malacca, The Chedi in Phuket, Vistana Hotel in KL, Penang and Kuantan and Tanjong Jara Resort.
All the properties are managed by YTLHP, including Pangkor Laut Resort and The Ritz-Carlton KL, which are majority owned by the Yeoh family.
They will look at markets in Indonesia, Singapore, the UK, Thailand and Australia.
Other link related to YTL:
YTL Corp Bhd ... Nov 20098
Monday, January 5, 2009
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