Melbourne Hilton Hotel up for sale
Melbourne is emerging as the focus for hotel sales in the second half of the year, with US hospitality property giant Host Hotels & Resorts and developer Plenary Group moving to put Hilton Melbourne South Wharf Hotel on the market.
The pair will offer their stakes in the asset — the US group owns 75 per cent and the local player 25 per cent — as a package, allowing a new owner to take full control of the hotel. Pricing is tipped at more than $250 million.
JLL has been tapped for advice but declined to comment on the property yesterday.
Market conditions could see a full price paid for the 364-room hotel, which is part of the Melbourne Convention and Exhibition Centre precinct and the South Wharf development.
Hotel sales hit about $1.9 billion in the first half of 2015, with Sydney and the Gold Coast the most active markets.
Source: The Australian, 20th August 2015
Originally published as: Melbourne Hilton Hotel up for sale
