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ICP acquires Geo Hotel property and business in KL for $27.5 mil

PC Lee Published on Fri, Sep 15, 2017 / 11:11 PM GMT+8

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SINGAPORE (Sept 15): ICP is acquiring the land, building and business of Geo Hotel in Kuala Lumpur for a total of $27.5 million to rebrand it into a Travelodge hotel.

ICP says the proposed acquisition will enable the group to expand its Travelodge hotels in Asia from four hotels in Hong Kong and Thailand.

At present, Geo Hotel is a premium economy hotel consisting of a commercial freehold land measuring 1,082 sqm and a 10-storey building with 180 rooms, 371 sqm of retail spaces and one level of basement car park. The hotel is managed by Geo Hotel Sdn. Bhd.

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ICP acquires Geo Hotel property and business in KL for $27.5 mil