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

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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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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