The acquisitions align with Pavilion REIT’s strategy which contributes positively to the overall portfolio and future growth. - pic from Banyan Tree Kuala Lumpur has proposed to acquire two hospitality assets - the Banyan Tree Kuala Lumpur and Pavilion Hotel Kuala Lumpur - in the Bukit Bintang area, for a combined RM480mil.
“Acquiring these iconic hospitality assets reinforces our commitment to delivering premium offerings while capitalising on synergistic opportunities with Pavilion Kuala Lumpur Mall”, said Pavilion REIT Management Sdn Bhd CEO Datuk Philip Ho. It said the transaction is expected to enhance portfolio diversification by reducing Pavilion Kuala Lumpur Mall’s contribution to Pavilion REIT’s total asset value from 61.4% to 58% via exposure to the hospitality sector.
"Pavilion REIT’s ownership further enhances this synergy, enabling strategic partnerships that will maximise the long-term value," it said.