City Developments Limited (CDL)’s wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C) has entered into a Sale and Purchase Agreement to divest the Copthorne Orchid Hotel & Resort Penang in Malaysia for RM 75 million (approximately S$25 million). The divestment is in line with the Group’s strategy to extract value from its non-core hotel assets, streamline its portfolio and recycle capital following the onset of the COVID-19 pandemic.

Read Full Article