Largest Australian hotel transaction this year Park Hyatt Melbourne sold to KS Hotels by JLL
The prestigious Park Hyatt Melbourne, widely considered one of Australia's true trophy assets, has sold to KS Hotels in what is the largest hotel transaction in Australia this year, and in Melbourne since 2017.
Epitomising luxury, Park Hyatt Melbourne graces the edge of the 'Paris End' of Melbourne's central business district, standing as a beacon of sophistication and elegance. Its signature driveway and porte-cochere sets the tone for built form characteristics seldom replicated in modern hotels including an opulent lobby, 245 guest rooms & suites, multiple conference & event rooms, a signature restaurant & bar, indoor swimming pool, fully equipped gymnasium, and a substantial car park.
Peter Harper, Managing Director & Head of Investment Sales Australasia told The Hotel Conversation, “The sale of Park Hyatt Melbourne presented a generational opportunity in a market that has recently demonstrated trading outperformance and cemented itself as one of Asia Pacific's most dynamic investment destinations.”
He added, “The strategic sale process leveraged JLL’s fully integrated Asia Pacific platform to ensure comprehensive capital coverage in a targeted manner. It resulted in an incredible level of interest from both offshore and domestic buyers with over 120 enquiries received and 25 inspections undertaken.”