UMusic eyes Bondi for Australian hotel debut
The former Noah’s Backpackers on Bondi Beach is being lined up as Australia’s first UMusic Hotel – a major repositioning – according to hospitality sources.
The 866 square metre Campbell Parade site was only recently rebranded the South Bondi Hotel.
Clime Asset Management and Singapore-based Vantage Point Asset Management paid receivers $60 million for the property earlier this year after an earlier deal worth that amount with Tom Wallace’s Millinium Capital fell through.
It previously sold to Jon Adgemis for $68m in 2022, when it was still operating as Noah’s Backpackers.
Mr Adgemis subsequently secured approval to transform the former 260-bed hostel into a 53-room hotel before his Public Hospitality empire collapsed and the property was placed into receivership.
The new owners have said they were considering how best to reposition the property, with apartments an option.
UMusic expands
UMusic Hotels is the hotel concept backed by Universal Music Group, combining accommodation with music, entertainment and cultural programming (continues below).
It has been accelerating its global expansion, recently announcing a partnership with Outernet London to open UMusic Hotel Denmark Street in the UK’s music and entertainment district.
Due to open this year, it will be the brand’s first in the UK and second in Europe, following UMusic Hotel Madrid.
The group has also been expanding its beach-club and destination-hospitality offering, in August announcing a partnership with UN Tourism, Mexican developers Inmobilia and Thor Urbana around UMusic Hotel & Beach Club Tulum, a 57-key hotel with an 800-capacity beach club due to open in December.
That project includes recording studios, content-production facilities and creative spaces, illustrating the broader music, entertainment and hospitality model UMusic is pursuing.
The Campbell Pde property was branded the South Bondi Hotel in 2023.
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