Hotels

CDL to acquire Sofitel Brisbane Central

City Developments Limited, through its wholly-owned hotel subsidiary Millennium & Copthorne Hotels Limited and in a 50:50 Joint Venture (JV) with its New Zealand-listed subsidiary Millennium & Copthorne Hotels New Zealand Limited, has agreed to acquire the Sofitel Brisbane Central hotel in Australia from Brookfield Asset Management at a purchase price of A$177.7 million, or A$427,000 per key.

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Canberra’s Abode Hotel and Apartments Woden for sale

Abode Hotel and Apartments Woden in Canberra has been listed for sale by Boutique Property Investment Fund Manager – The Shakespeare Property Group, with price expectations around $50 million. CBRE Hotels’ Michael Simpson and Vasso Zographou are managing the sale via an Expressions of Interest campaign closing March 6, 2023. …

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Elanor Raises $25m for Regional Hotel Acquisitions

Elanor Investors Group has completed a $25 million capital raising for the Elanor Hotel Accommodation Fund (“EHAF”) to acquire the Chateau Yering, Yarra Valley and Wildes Boutique Hotel, Kangaroo Valley accommodation hotels.

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Australia’s hotel market proves leaner and stronger as it undergoes luxury green facelift

With the opening of around 3,420 rooms in 10 major markets throughout 2022, new hotel supply represented a moderation from the more than 5,000 rooms which opened in 2021, enabling hoteliers to respond dynamically to changes in tourism demand and spending and market conditions, according to Karen Wales, Colliers’ Asia Pacific Director of Hotels.

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