MUI buys American hotel

Thu, 14 Dec 1995

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.

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