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AccorInvest is selling its Australian hotel portfolio, which comprises 23 real estate assets and lease interest across major cities in Australia.
With JLL Hotels & Hospitality Group handling the sale, the portfolio includes 17 real estate assets, four of which are branded as ibis hotels while the other 13 are ibis Budget hotels.
Notable assets include the ibis Sydney Airport, ibis Hotel & Apartments Melbourne, ibis Newcastle and ibis Budget Sydney Olympic Park.
The six lease interests, on the other hand, include The COMO Mgallery by Sofitel in Melbourne, the Mercure, Novotel and ibis hotels in Brisbane, as well as the Mercure and ibis hotels in Perth.
Currently, all hotels in the portfolio are operated by AccorHotels, the biggest hotel management company in Australia, under hotel management agreements.
Occupying a combined 54,500 sq m of land, the real estate assets in the portfolio are well established in their respective markets, said JLL Hotels & Hospitality Group executive vice president Peter Harper.
“The sale offering comes at a time when the Australian hotel market is experiencing unprecedented investor interest and we expect that a wide range of groups will be drawn to the very attractive fundamentals of the individual hotels and portfolio as a whole,” he added.
Meanwhile, Craig Collins, CEO Australasia, JLL Hotels & Hospitality Group, said: “The pure scale of this portfolio and its diversity – in terms of location, market positioning and income profile – presents investors with an opportunity to immediately establish an unparalleled foothold in one of Asia Pacific’s most highly sought after hotel investment destinations.”
He noted that economy hotels are a “highly proven and successful hotel model in the Australian market”. This comes as their “typically low operating costs and high level of profitability make them very attractive investments”.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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