Berjaya group CEO Abdul Jalil Abdul Rasheed said the operating model of the group’s hospitality division is now gradually shifting to owner model rather than an operator model. is eyeing to establish a hospitality real estate investment trust in the long run, which focuses only on five-star hotels owned by the group instead of those it operates, said group chief executive officer Abdul Jalil Abdul Rasheed.
"Today, we own a hotel, we also run it under Berjaya’s brand, but over time, that could no longer exist, where we will just become purely owner, like what we have done with Four Seasons Hotel in Kyoto, Japan, where we own the property, but we get an international, expert operator to run it. He said the group’s hospitality division is slowly exiting markets like China and Vietnam and shifting its focus on five-star business in places like Japan.
Abdul Jalil also revealed that the group had put two resorts in Seychelles, a resort in Sri Lanka, and one hotel each in Hanoi, Vietnam and the Philippines up for sale.
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