Sydney Hotel Sale – realestatesource

YTL Group Buys Country’s Largest Ever Hotel Property Portfolio: $415 Million For Marriott Sydney, Melbourne and Brisbane

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.

New South Wales

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

June 19, 2012 Marc Pallisco George Saade, Great Eagle group, Langham, Nara Corporation, Orient Express Hotels, Sydney Hotel Sale, The Rocks

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.

New South Wales

Toga Group Buys Kings Cross Hotel for $16.75 Million

March 6, 2011 Marc Pallisco Kings Cross, Sydney Hotel Sale, Sydney Residential Development Site Sale, Toga Group

THE Mansions hotel, in Sydney’s inner-city Kings Cross, has sold to developer Toga Group for $16.75 million.

The property, which currently trades as a pub, is expected to be converted into an apartment complex. Toga purchased the site on terms subject to this redevelopment being approved. The Mansions soars five levels. It was one of the last controlled by the Landmark Leisure Group which went into receivership in 2009.

Other sites owned by LLG included the Vegas Hotel, which like The Mansions is also in Kings Cross. Other assets include Darlingsford’s Oxford Hotel and the peakhurst Inn.

New South Wales

Mercure Potts Point Reopens After Renovation, But Doesn’t Sell

March 3, 2011 Marc Pallisco australand, Potts Point, Sydney Hotel Sale

SYDNEY’s 227-room Mercure Potts Point has opened after a major renovation that started three years ago.

A $63 million sale of the hotel, reported last month, is now reported to have fallen through. An international operator will be appointed to manage the hotel now, according to the AFR.