Great Eagle Group Pays $40 Million For Observatory Hotel, Sydney

GREAT Eagle Group, the listed Hong Kong property company has paid about $40 million for the Observatory Hotel in Sydney (pictured, right).

The purchase will add to the group’s 13-strong portfolio of international hotels it currently manages under the Langham and Langham Place brands.

Already operating in Melbourne, and Asia, Europe and the United States, the purchase of the 96-room Georgian style grand 19th Century home allows the group to offer a Langham brand in Sydney.

Read more