Bluestone Group Malaysia, through its wholly owned subsidiary Taragon Capital Malaysia Sdn Bhd (TCM) has entered into an agreement to sell its downtown hotel at Taragon Puteri KL to an overseas investment company, Grace Hub Sdn Bhd.
“The sale of the hotel is a strategic decision and comes at a good time, as hotels are now in great demand and the local hospitality industry is growing. Based on last year’s figures, Malaysia welcomed over 24 million tourists, a 4.2 per cent increase against 2009,” said a TCM spokesperson.
The status of the hotel was recently the subject of speculation and several unauthorised sales agents have made false representations to potential buyers.
The TCM spokesperson added, “We hope that with this announcement of sale, our position concerning the hotel is clear.”
At present, the new owner, Grace Hub Sdn Bhd is in the midst of appointing an operator for the hotel.
