Ytl Hospitality Real Estate Investment Trust (Malaysia)

YTL Hospitality Real Estate Investment Trust (REIT) is a company located in Kuala Lumpur, Malaysia. It was listed on the Main Market of Bursa Malaysia Securities Berhad on December 16, 2005, under the name Starhill Real Estate Investment Trust. The company's market capitalization is approximately RM1.61 billion as of June 30, 2023. YTL Hospitality REIT's main objective is to provide stable cash distributions to its unitholders through owning and investing in yield accretive real estate assets. The company has a wide portfolio of prime hotel properties, including business and luxury hotels, located in various unique locations worldwide. In Malaysia, the company owns hotels such as the JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur, The Ritz-Carlton Kuala Lumpur (Hotel and Suite wings), the Pangkor Laut, Tanjong Jara, and Cameron Highlands resorts, and the AC Hotels in Kuala Lumpur, Penang, and Kuantan. YTL Hospitality REIT also has an international portfolio, which includes Hilton Niseko Village and The Green Leaf Niseko Village in Japan, as well as the Sydney Harbour, Brisbane, and Melbourne Marriott hotels in Australia. The company was initially focused on investing in a diversified portfolio of retail, office, and hospitality real estate assets, with a particular emphasis on retail and hotel properties. However, in 2009, YTL Hospitality REIT underwent a rationalization exercise to reposition itself as a pure play hospitality REIT. As part of this exercise, the company disposed of its retail properties, Starhill Gallery and parcels in Lot 10 Shopping Centre, to Starhill Global Real Estate Investment Trust in Singapore. YTL Hospitality REIT then acquired additional hotel properties, including the Pangkor Laut, Tanjong Jara, and Cameron Highlands resorts, The Ritz-Carlton Kuala Lumpur (Hotel and Suite wings), the AC hotels in Kuala Lumpur, Penang, and Kuantan, and Hilton Niseko Village in Japan. In November 2012, the company further expanded its international portfolio by acquiring the Sydney Harbour, Brisbane, and Melbourne Marriott hotels in Australia. In November 2017, YTL Hospitality REIT acquired The Majestic Hotel Kuala Lumpur, and in September 2018, it acquired The Green Leaf Niseko Village in Japan. YTL Hospitality REIT was established through a trust deed entered into on November 18, 2005, between Pintar Projek Sdn Bhd and Maybank Trustees Berhad, as the manager and trustee, respectively, of the REIT.