trending Market Intelligence /marketintelligence/en/news-insights/trending/ma9Mtyd58LkaDLs3RYGX_g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

M&L Hospitality's A$1.5B sale of Australia, New Zealand hotels scrapped

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


M&L Hospitality's A$1.5B sale of Australia, New Zealand hotels scrapped

M&LHospitality's A$1.5 billion sale process for its hotel portfolio in Australia andNew Zealand has been canceled, The Australianreported April 9.

The family-rungroup had indicated a sell-off of its hotel unit in Australia and New Zealand, comprisingsix assets with 2,089 rooms, in December 2015, as reported earlier. The sale attracted a number of from around the world.

The salewas scrapped in the same week that AscendasHospitality Trust endedtalks for a potential sale of its entire stapled securities. Ascendas'hotel portfolio was valued at A$1.4 billion, according to the report.

The publicationsaid the mooted sales indicate confidence in favorable conditions for the hospitalitysector, with improved hotel trading conditions and the expectations of continuedgrowth.

M&LHospitality is carrying out redevelopment works at the Four Points by Sheraton Sydney,aiming to convert the asset into a hotel and office complex with the addition ofa conference center and boutique office tower. Starwood holds the management rightsto the property, which will expire in the coming months, and a new operator dealcould boost the overall value of the company's portfolio, the report said.