financeeHotelier··1 min·For: Owner, Investor, GM
Wentworth Capital Buys Sydney Hotels for $390M
Wentworth Capital and Sun Hung Kai & Co have acquired the Novotel and ibis Darling Harbour for $390 million, marking Sydney's largest hotel deal in four years. Accor will continue to operate the combined 781-room dual-property complex under long-term management agreements.
Key Takeaways
- 1Acquisition comprises 781 rooms across the upscale Novotel (525 rooms) and midscale ibis (256 rooms).
- 2Transaction marks Sydney's largest trading hotel deal in four years at $390 million.
- 3Accor retains long-term management of both Darling Harbour properties.
Source: eHotelier
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