The possibility of this transaction was first reported by The Edge Malaysia on Aug 18.
Besides the 381-room Thistle Johor Bahru, GuocoLand is also open to selling another hotel, the Thistle Port Dickson Resort, according to The Edge Malaysia.
According to The Edge Malaysia, GuocoLand's asking price for the 251-room Port Dickson property is between RM135 million and RM150 million.
GuocoLand shares closed at $1.86 on Aug 29, down 1.06% for the day.
