Oriental To Acquire Three Hotels, To Reposition Under The Ascott

KUALA LUMPUR, Nov 8 (Bernama) -- Oriental Holdings Bhd (OHB) and its subsidiaries (collectively, OHB Group) intend to acquire Bayview Beach Resort Penang, Bayview Hotel Georgetown and Bayview Hotel Langkawi.

In a statement today, it said the three hotels will be undergoing repositioning under the management of The Ascott Ltd, a hospitality company appointed by the existing hotel owners.

OHB said the proposed acquisition of Bayview Hotel Georgetown also includes Wisma Boon Siew, an adjoining 15-storey building comprising an office tower, two showrooms and car parking bays.

"Upon completion of the transaction, OHB Group will assume ownership of the three hotels, with Ascott continuing as the operator and manager.

"The acquisitions are subject to the approval of OHB’s shareholders at an Extraordinary General Meeting to be held in the first quarter of 2026 (1Q 2026) and subsequent completion of the transaction," said OHB.

It added that the three hotels are expected to be aligned with distinct brands within Ascott’s portfolio, each tailored to specific traveller segments.

Renovations are scheduled to commence in 2026, with relaunch targeted by the first half of 2028.

Its chief financial officer, Adrian Wong, said subject to shareholder approval, this proposed acquisition represents a meaningful step in strengthening OHB Group’s presence in Malaysia’s hospitality sector.

"When completed, it will expand our hotel portfolio in the country from one to four properties and grow our overall portfolio from seven to ten.

"The addition of these hotels would enhance the group’s recurring income base, provide greater geographical diversification and broaden our presence across key tourist destinations in Pulau Pinang and Kedah," he said.

-- BERNAMA