MUI buys American hotel

MUI buys American hotel

KUALA LUMPUR (AFP): Malayan United Industries Bhd. said
yesterday it had bought Florida's Radisson Twin Towers Hotel and
Convention Center for US$30 million to bring to 12 the number of
hotels in its international chain.

Its U.S.-based investment arm, Regent Corp. Inc, acquired the
760-room, four-star hotel in Orlando from B.A. Properties Inc., a
unit of the Bank of America group.

"The final payment for the deal was made on Nov. 29. MUI paid
for the hotel in cash," said Pel Loh, MUI's assistant general
manager for public affairs.

The acquisition of the hotel offered a gateway into the
tourism market in Orlando, a popular business and vacation
destination, MUI said in a statement.