The sale of the freehold interest in 'The Cloey' is rumoured to be worth nearly $34 million which represents a circa 5% yield, a record for large hotel investment properties in deal brokered by JLL National Director John Musca and Colliers International Director Miron Solomons.
The beachfront hotel in Byron Bay, also known as the Top Pub, owned by businessman Max Trigg has sold for $70 million to the Liberman-family backed Impact Investment Group in an off-market deal brokered by CBRE's Wayne Bunz and Daniel Dragicevich.
Following multiple large format hotel sales in 2017, Andrew Jolliffe, Asia Pacific Director of Hotels at the Ray White Group, has announced the sale of the Allawah Hotel in Sydney’s South West on behalf of JDA hotels for approximately $30m.
AccorHotels expands in Asia Pacific with Sofitel Wellington, Sofitel Sydney Darling Harbour and Pullman Brisbane Airport
The October 2017 openings in Wellington, Sydney and Brisbane plus new hotels in Kuala Lumpur, Singapore and Shenyang will see the expansion of the Sofitel and Pullman brands, which fall under AccorHotels’ luxury and upscale collection.
‘Hybrid’ tourism parcel sale sets benchmark in thriving Port Macquarie demand hotspot
Local development companies Lloyd Coastal Property and Bannister Constructions have sold the Palm Court Motor Inn, negotiated by James Carrick of national accommodation specialists, Resort Brokers Australia.
Travelodge Hotels is set to open a new 209-room hotel at Sydney Airport with all-day dining and a late night bar, as well as an 800-bay car park, offering the perfect layover for the no-nonsense traveller seeking comfort and convenience at Australia’s busiest airport.
Horse racing pedigree to enter the boutique hotel market with Sofitel
AccorHotels has announced its partnership with renowned thoroughbred horse sales company William Inglis & Son Ltd to open a new-build luxury boutique hotel under the MGallery by Sofitel brand.
Winners announced for the 2017 TAA (NSW) Awards for Excellence
The 20th annual Accommodation Awards for Excellence were hosted by Tourism Accommodation Australia (NSW) on Thursday 20 July at the Hyatt Regency Sydney with almost 700 guests, making it the biggest attendance in the event’s history.