FRANCIS YEOH’S YTL BUYS INTO THREADNEEDLES HOTEL IN LONDON

KUALA LUMPUR – YTL Corp Bhd’s hospitality arm YTL Hotels has bought its fifth property in the UK, Threadneedles Hotel in London.

In a press statement, YTL Hotels said the building, its second Autograph Collection property in the country, was formerly the head offices of City and Midland Bank (from the 1880s) but the Grade-II listed Victorian building was immaculately restored to a luxury hotel in 2002 while retaining many of its historic features.

Threadneedles Hotel formed a franchise affiliation with the Autograph Collection by Marriott International in 2013.

YTL Hotels said that under the new ownership and the group’s decades-long relationship with Marriott International, the hotel would continue to set the benchmark in best of class standards.
The statement did not give the value of the hotel. However, YTL Corp, in a filing with Bursa Malaysia, said the group, through indirect unit Threadneedles Hotel Ltd, had bought RW Threadneedle Street Ltd for £9.9mil (RM55.44mil).

The acquisition of Threadneedles Hotel expands YTL Hotels’ stable of luxury properties under the Autograph Collection to a total of four, the others being The Glasshouse in Edinburgh, The Majestic Hotel Kuala Lumpur and Hotel Stripes Kuala Lumpur, which will make its debut next month.

“The 74 beautifully appointed bedrooms and suites in Threadneedles Hotel combine contemporary style with the building’s banking heritage, providing a haven of calm from the frenetic pace of the capital,” YTL Hotels said.

– ANN

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