Perth hotels draw international investors
The 368-room Westin Perth, straddling Hay and Murray streets in the heart of Perth’s CBD and the nearby Aloft Perth and an adjoining nine-storey office building are on the market.
And they are tipped to attract offshore interest.
All this coincides with Perth and Western Australia being on the road to economic recovery.
JLL’s Mark Durran says confidence is returning to the west so investors from far and wide are expected to vie for the sites.
“The Perth hotel investment market is poised for recovery,” Durran told realcommercial.com.au.
“STR Global reports that demand across Perth hotels grew by 10.7% in 2017 on the back of business travel growth, a key indicator of the strong underlying trading fundamentals in the market.
“The positive outlook and market sentiment has also been reflected in the increased hotel transaction activity in Perth over the past 12 months as investors position themselves for future long-term growth.”
The Westin would certainly draw investors with its luxuriously large rooms with scenic views of the Swan River, modern facilities and appliances. All that combined with the hotel chain’s signature Heavenly Beds.
The hotel has as 2300 square metres of conference space, an outdoor infinity pool and development approval for a 36,545sqm commercial tower at the site.
And it’s only 12 kilometres from Perth airport.
Added to that is its partnership with high-profile Melbourne celebrity chef Guy Grossi behind Italian restaurant Garum, delivering Roman inspired cuisine at the historic Hibernian Hall.
The Aloft Perth site has 224 rooms located close by to the Burswood entertainment area and the newly opened Optus Stadium.
With 593square metres of seminar space and a 300 square metres of ballroom, it is ideally placed for attracting the business and conference market
Both hotels are operated by Marriott International with its world-wide membership network.
They are being sold through an international expressions of interest campaign.
Leon Getler 27th June 2018.
