Marriott – realestatesource https://www.realestatesource.com.au Commercial and residential property news Fri, 30 Jun 2017 00:25:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Marriott – realestatesource https://www.realestatesource.com.au 32 32 YTL Group Buys Country’s Largest Ever Hotel Property Portfolio: $415 Million For Marriott Sydney, Melbourne and Brisbane https://www.realestatesource.com.au/ytl-group-buys-countrys-largest-ever-hotel-property-portfolio-415-million-for-marriott-sydney-melbourne-and-brisbane/ Sun, 17 Jun 2012 11:00:07 +0000 http://realestatesource.com.au/wordpress/ytl-group-buys-countrys-largest-ever-hotel-property-portfolio-415-million-for-marriott-sydney-melbourne-and-brisbane.html MALAYSIA’s YTL Corp has paid a reported $415 million for a portfolio of three major hotels on the eastern seaboard.

The three hotels – the Sydney Harbour Marriott at 30 Pitt StreetCircular Quay, the Melbourne Marriott at the corner of Exhibition and Lonsdale streets and the Brisbane Marriott at 515 Queen Street – represent what is believed to be the country’s largest ever hotel property portfolio measured by value.

]]> The five-star hotels were offloaded by the Commonwealth Property Hotel Fund and represents the winding up of the Colonial First State Global Asset Management managed fund.

The purchase gives YTL an additional 1016 room portfolio in Australia.

According to agency Jones Lang LaSalle, about $614 million of hotel properties will have changed hands this half-year. Asian buyers account for 93 per cent of deals, according to an AFR article reporting the Marriott sales.

 

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