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Archive for the ‘Melbourne’ Category

Biggest US REIT May Pay $150 Million For Melbourne Hotel

Monday, April 25th, 2011
Hilton Melbourne South Wharf

THE largest lodging real estate investment trust in the United States may be moving into the Melbourne hotel market.

According to the AFR, Host Hotels & Resorts is eyeing the $150 million Hilton Melbourne South Wharf complex, at the riverside junction that divides the CBD from Southbank and Docklands.  The hotel was listed for sale by private developer Plenary which is expected to maintain some stake in the hotel.

A Host spokesperson confirmed it was “exploring acquisition and development opportunities” in the Asia Pacific

In the first three months of 2011, Host has acquired three hospitality holdings: the Manchester Grand Hyatt San Diego, the New York Helmsley Hotel, and a portfolio of seven New Zealand properties acquired from that country’s Tourism Asset Holdings.

Any sale of the Hilton Melbourne South Wharf follows the $54 million sale of the Travelodge Docklands Melbourne, and the $109 million Hilton Melbourne Hotel – both of which … Read the rest

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