YTL Hotels and Marriott International Sign Agreement to Bring the AC Hotels by Marriott Brand to Malaysia
YTL Hotels and Marriott International have signed a Master Development Agreement to bring the AC Hotels by Marriott brand to Malaysia for the first time. The AC Hotels by Marriott brand will be exclusive to YTL Hotels for the whole of Malaysia. The signing of this agreement is one of many key milestones in the partnership between YTL Hotels and Marriott International as it continues to grow from strength to strength. AC Hotels by Marriott embraces European design and style across its international portfolio of distinctive properties in Europe and North and Latin America.
"Marriott International and YTL Hotels have enjoyed a very successful and strategic partnership over many years. We are honored to be collaborating once again to bring the AC Hotels by Marriott brand into Malaysia," said Craig S. Smith, President and Managing Director, Asia Pacific, Marriott International.
"Together, Marriott International and YTL Hotels have a current portfolio of 12 properties across Asia and Europe. We are confident that AC Hotels by Marriott will represent a wonderful new addition to YTL Hotels' portfolio of Marriott International hotels."
The two companies had also signed franchise agreements to strategically convert three established YTL Hotels properties to the AC Hotels by Marriott brand - Vistana Kuala Lumpur Titiwangsa, Vistana Kuantan City Centre and Vistana Penang Bukit Jambul. The prime hotels in Penang and Kuantan will be Marriott International's inaugural debut in the two cities, offering business and leisure travelers a thoughtful approach and seamless guest service.
About YTL Hotels
YTL Hotels owns and manages a prestigious collection of award-winning resorts, hotels, boutique experiences and Spa Villages with a hospitality footprint across Malaysia, Thailand, Indonesia, China, Japan, Australia, and Europe including Pangkor Laut Resort, voted the world's best resort in 2003 by Condé Nast Traveller UK. The group also co-owns the Eastern & Oriental Express luxury train. The Gainsborough Bath Spa, the only hotel in Bath to be part of the Leading Hotels of the World's collection of legendary hotels, was named the 2017 Condé Nast Traveller Awards World's Top 100. The portfolio also encompasses the ownership management of a number of Marriott properties in Australia, Koh-Samui and Kuala Lumpur as well as properties under the brand's prestigious Autograph Collection banner. With each new experience that it presents, the company strives to embrace and highlight the natural essence of culture, character and tradition of its surroundings. YTL Hotels is the hospitality arm of YTL Corporation Berhad. Founded in 1955, YTL Corporation Berhad is an integrated infrastructure developer headquartered in Malaysia with extensive operations in its homeland, including Europe, Singapore, Indonesia, Australia, Japan, Jordan and China.
CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
All statements in this announcement are made as of June 24, 2020. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This announcement contains "forward-looking statements" within the meaning of federal securities laws, including statements related to expected leadership changes, our pipeline of new projects, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our Securities and Exchange Commission ("SEC") filings, including our most recent Quarterly Report on Form 10-Q.