Oriental Holdings Bhd is set to acquire three Malaysian hotels from its major shareholder, the Loh family, for RM411 million in cash, strengthening its domestic hospitality portfolio.
The group, which also distributes Honda vehicles in Malaysia, will buy Bayview Beach Resort Penang for RM167 million and Bayview Hotel Georgetown for RM153 million from Boon Siew Sdn Bhd, a company owned by the Loh family. Bayview Hotel Langkawi will be acquired from Boon Siew Development Sdn Bhd for RM91 million. Oriental noted in a filing that the purchase prices are below independent valuations.
The acquisitions will increase Oriental’s domestic hotel count from one to four, diversifying its hospitality segment, which previously contributed only 4% of the hotels and resorts revenue in FY2024. Globally, the group now owns seven hotels.
Oriental plans to spend RM210.73 million refurbishing and rebranding the properties: RM107.62 million for Bayview Beach Resort Penang (to become Ascott Batu Ferringhi Penang), RM92.2 million for Bayview Hotel Georgetown (Oakwood Georgetown Penang), and RM10.79 million for Bayview Hotel Langkawi (FOX Hotel Langkawi).
The deal, expected to close in Q3 2026, requires approval from non-interested shareholders at an extraordinary general meeting. Oriental shares ended unchanged at RM6.82, valuing the group at RM4.23 billion.
