trending Market Intelligence /marketintelligence/en/news-insights/trending/spbjCh89fH2KfI75zvIAjA2 content esgSubNav
In This List

CDL Hospitality unit to sell Australian hotels for A$77M

Blog

Insight Weekly: M&A players predict 2023 activity; SPAC IPOs dip; 2022 capacity retirements up

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share


CDL Hospitality unit to sell Australian hotels for A$77M

The trustee of CDL Hospitality Trusts unit CDL Hospitality REIT indirectly agreed to sell the 194-room Mercure Brisbane and 218-room Ibis Brisbane hotels in Brisbane, Australia, to CR Hotel Target Pty Ltd. for A$77.0 million.

The hotels, which are connected at basement level, were valued at A$70.0 million on Dec. 22. The deal represents a 43.4% premium over the original purchase price of A$53.7 million.

The sale is expected to be completed in January 2018.