KUALA LUMPUR (Sept 12): Concorde Hotel Kuala Lumpur "is not for sale" by its owners and shareholders, said Tan Sri Sallehuddin Mohamed, chairman of its owner Ampang Hotel Sdn Bhd.

In a statement, Sallehuddin said the shareholders "are satisfied with our progress and the direction we are taking" for the hotel.

"Concorde Hotel Kuala Lumpur continues to thrive, thanks to our dedicated team and loyal guests," he said.

"Now into our thirty-third year in the hospitality business, Concorde Hotel Kuala Lumpur is here to stay. We remain focused on enhancing our services and expanding our offerings to better serve our valued clientele," he added.

Concorde Hotel KL, according to the statement, was rebranded from the former Merlin Hotel. The 19-floor, four-star hotel with 581 rooms is located along Jalan Sultan Ismail here.

It was reported that the hotel was up for sale for RM700 million together with neighbouring land, with plans to demolish the 67-year-old building to make way for a multibillion-ringgit integrated development.

Both the hotel and the land — covering a total of about 4.5 acres — are freehold properties, EdgeProp reported.

Back in 2018, it was reported that Concorde Hotel KL was in the planning for a redevelopment, but that was called off in favour for upgrading works.

Ampang Hotel Sdn Bhd is linked to the Sultan of Selangor Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed Yusof Syed Nasir, and Singaporean tycoon Ong Beng Seng through Singapore-listed Hotel Properties Ltd.