The Thai family which owns food import business Sino-Pacific Trading has made its first foray into Australia’s hotel market paying $108 million for Sydney’s Vibe Darling Harbour.
Icon Oceania only completed construction of the 145-key hotel last October.
The developer listed the WMK-designed asset, 319-325 Sussex Street, Sydney, two months earlier.
At the time it carried price hopes of $100 million.
Over 16 levels, the 4.5-star Vibe Darling Harbour includes a gym, heated infinity swimming pool and rooftop bar ‘Above 319’ (pictured, above).
On the ground floor, a restaurant and bar is adjacent to the lobby.
The hotel sits on a 391 sqm block acquired by Icon for $16.25 million in 2016, and which at the time accommodated three red brick terraces.
The innkeeper, Vibe, is a brand of TFE Hotels.
In April, the operator is set to start trading from a 25-level hotel nearing completion atop of a c1873 building at 2 Queen Street, in the Melbourne CBD, occupied from the 1950s until 2011 by rag trader Fletcher Jones.