Worldwide Hotels snaps up ibis Styles Brisbane for $100m
Worldwide Hotels has acquired ibis Styles Brisbane in a deal believed to be worth $100 million.
Worldwide Hotels subsidiary Legend Land Brisbane conducted the off-market deal brokered by Wayne Bunz of CBRE Hotels, marking the Singapore group’s second Australian hotel acquisition this year following its purchase of Holiday Inn, Perth in April.
Worldwide Hotels has 8000 rooms across its 43 hotels portfolio in the Asia Pacific, including six hotel brands in Singapore - Hotel Boss, V Hotel, Hotel Mi, Value Hotel, Venue Hotel and Hotel 81.
“It is the intention of the group to expand worldwide, in line with the next phase of its long-term plans,” said Worldwide Hotels managing director Carolyn Choo.
“Worldwide Hotels strives to be a significant player in the global hospitality scene.”
German, Hong Kong and Singaporean investors has sunk more than $200 million in offshore capital into the Brisbane hotel sector in the past 12 months.
Sheridan Randall, 6th November 2018
