Perth’s preeminent lifestyle hotel offered for sale

The flagship hotel of Accor’s emerging international brand Tribe Perth has been placed on the market by the Joint Venture ownership Group.

JLL Hotels & Hospitality Group’s Chloe Mason, Mark Durran and Peter Harper have been exclusively appointed to market the asset for sale by an Expressions of Interest campaign.

The near-new hotel features 126 guest rooms and is located adjacent Perth’s iconic Kings Park and proximate to major demand generators RAC Arena and Perth Exhibition and Convention Centre as well as Development WA’s $227 million Subi East project which is set to transform 35
hectares of land, further enhancing the amenity offering of the hotel.

Tribe Perth offers luxurious contemporary spaces, curated guest rooms with floor to ceiling windows, a casual dining space – café by day and bar by night as well as large communal spaces ideal for casual meetings. The hotel’s architecture and interiors by Australia’s leading designers
resulting in the hotel being shortlisted for a number of international design awards.

Having only opened in May 2017, Tribe is a rapidly expanding lifestyle brand with the second Tribe opening in Paris last year, and a significant pipeline of 30 Tribe branded hotels already committed across the Asia Pacific and Europe with plans for 150 hotels in the next 5 years.

“The Property's furnishings were customed designed for the hotel, with guest rooms offering a luxury feel featuring striking views over Perth's Kings Park. The communal facilities provide well-appointed spaces specifically designed for interacting with fellow guests, co-working or casual dining throughout the day and night. Furthermore, the hotel only opened in May 2017, providing significant tax depreciation benefits moving forward.” noted Chloe Mason, Senior Executive of JLL Hotels & Hospitality Group.

Before the pandemic, WA’s tourism industry was witnessing robust growth. Visitor arrivals into Perth reached an all-time high in 2019, with just under 2.9 million visitors from both the domestic and international markets. WA’s intrastate market was equally as strong with 9.1 million trips taken within the State.

The pandemic has undoubtedly put a halt to international travel. As such, visitation numbers to WA (and the rest of the nation) are expected to remain subdued over the short-term. However, over the short to medium term the scope for a domestic-led recovery exists and Tribe Perth is well placed to capitalise on this domestic demand as well as Perth’s ‘staycation’ market, and WA’s vast fly-in, fly-out workforce.

“Acknowledging the current challenges facing the hotel and tourism industry, Western Australia has benefited from a higher demand due to the fly-in, fly-out nature of the mining industry and the lack of local restrictions resulting in Perth being the strongest hotel market out of all Australian capital cities throughout 2020” noted Mark Durran, Managing Director of JLL Hotels & Hospitality Group.

“The Hotel is being offered to the market at a time when Perth is nearing the end of its new supply, and it’s anticipated that the increased activity in the resources sector will undoubtedly have an impact on Perth’s Hotel performance as it did during the 2010-2012 boom,” said Ms Mason.

Tribe Perth is being offered for sale via Expressions of Interest. For further information, please contact JLL Hotels & Hospitality Group.

JLL Hotels & Hospitality Group, 10^th February 2021