Malaysia’s YTL Hotels to buy entire stake in Spain’s SOL HTL for $250.9 mln

YTL Hotels & Properties Sdn Bhd, a hospitality unit of Malaysian infrastructure to construction company YTL Corp., Bhd, will acquire the entire issued share capital in Spanish hotel operator SOL HTL Project, S.L.U.

Under the deal, YTL Hotels & Properties will buy all the share capital in SOL HTL Project, a unit of investment firm KKH Property Investors, S.L.U. for 220 million euros ($250.9 million).

Further, SOL HTL Project plans a real estate scheme to change an existing office building in Madrid into a 200-room hotel to be operated under the EDITION brand of U.S. hospitality company Marriott International, Inc.

The closing of the transaction will take place following the completion of the EDITION hotel.