Biggest US REIT May Pay $150 Million For Melbourne Hotel

THE largest lodging real estate investment trust in the United States may be moving into the Melbourne hotel market.

According to the AFR, Host Hotels & Resorts is eyeing the $150 million Hilton Melbourne South Wharf complex, at the riverside junction that divides the CBD from Southbank and Docklands.  The hotel was listed for sale by private developer Plenary which is expected to maintain some stake in the hotel.

A Host spokesperson confirmed it was “exploring acquisition and development opportunities” in the Asia Pacific.

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