On 29 September, the Thistle Hotel Johor Bahru announced on all of its social media platforms that it will be closing.
The 380-room hotel was purportedly purchased by YTL Hotels earlier on 1st of September, representing their most recent investment in Malaysia.
According to reports, GuocoLand is selling a hotel in Johor Bahru and the land tract on which it is located for RM150 million. After the sale is completed, the company is expected to make RM35 million, or $11 million.
Then, in an SGX filing on 1 September, GuocoLand confirmed the rumours that have been circulating since August that the buyer of the five-star Thistle Johor Bahru is YTL Hotels & Properties, a subsidiary of YTL Corp.
The facility is reportedly undergoing extensive renovations to become a five-star hotel in preparation for its 2026 relaunch.
