Concorde Hotel Kuala Lumpur has been declared "not for sale" by Tan Sri Sallehuddin Mohamed, the chairman of the hotel's owner Ampang Hotel.

 Sallehuddin emphasised the shareholders' satisfaction with the hotel's progress and direction, reported The Edge Malaysia.

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

"Concorde Hotel Kuala Lumpur is here to stay."

The hotel is committed to enhancing services and expanding offerings for its clientele.

The hotel, a rebrand of the former Merlin Hotel, boasts a history of 67 years since Malaysia's independence, featuring a 19-floor, four-star establishment with 581 rooms along Jalan Sultan Ismail.

It has been reported that the hotel, along with the adjacent land, is listed for sale at RM700m. The proposed plan involves demolishing the 67-year-old building to facilitate the construction of a multibillion-ringgit integrated development.

According to the EdgeProp report, both the hotel and the land, which encompass approximately 4.5 acres, are freehold properties.

In 2018, there were plans for Concorde Hotel KL's redevelopment, but these were shelved in favour of upgrading works.

Ampang Hotel is associated with the Sultan of Selangor, Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed Yusof Syed Nasir, and Singaporean tycoon Ong Beng Seng via Singapore-listed Hotel Properties.

Recently, Malaysia witnessed the expansion of Swing & Pillows, a Malaysian co-living and hotel chain operator, into the Bukit Bintang area of Kuala Lumpur. This expansion involved the acquisition of five hotels.