Asia Pacific Hospitality Newsletter
Top Stories Tamfitronics Yong Tai is Selling Courtyard by Marriott Melaka for MYR160 MillionApple 99 Development Sdn Bhd, a wholly-owned subsidiary of Malaysia-based Yong Tai Berhad (“Yong Tai”), is disposing Courtyard by Marriott Melaka to Malaysia-based Southern Envoy Sdn Bhd for MYR160 million. Located 20-minute away from Melaka International Airport, the 286-key property features two food and beverage outlets, nine event spaces, an outdoor swimming pool, and a fitness centre. The proposed disposal will enable the group to repay existing bank borrowings and settle outstanding progress claims with the hotel contractor, thereby improving its gearing level.Dash Living and BlackRock Acquired Tokyo Multi-Family BuildingHong Kong-based Dash Living and a fund managed by US-based BlackRock's real estate business have jointly acquired an upscale multi-family property in Tokyo. The 29-key property is located in the Higashi Komagata area...