iProsperity buys AccorInvest’s Aussie hotel portfolio
Hong Kong-backed funds investment group iProsperity Group has acquired European hotel investor AccorInvest’s Australian hotel portfolio for more than $250 million.
The 23-hotel portfolio across Sydney, Melbourne, Brisbane, Canberra, Perth and regional areas comprises 1797 rooms across 17 real estate assets and 1249 rooms over six lease interests, with the majority either Ibis or Ibis-budget branded. Some of the larger assets in the portfolio include the 200-key Ibis Sydney airport and the 156-key Ibis Budget Sydney Olympic Park.
In July, iProsperity Group offloaded the 200-key Novotel Melbourne hotel and adjoining Century City Walk shopping centre in Melbourne’s south-east and sold the Sydney Park Regis Hotel to the Yeh Group for $54.18 million late last year.
Sheridan Randall, 4th September 2019
