The Holiday Inn Brisbane is expected to be re-branded under Shangri-La’s Traders brand from August. It will be the debut of the Traders brand in Australia.
Meanwhile Tourism Asset Holdings Limited can expect to make between $55 and $60 million from the sale of the landmark Novotel Melbourne hotel complex in bayside St Kilda. On a freehold 5791m², the hotel includes 211 rooms over six levels. It is zoned residential, has a car park and is expected to arouse interest from developers who may propose a much higher density apartment tower compound.
In Sydney, Marrickville’s popular Vic on the Park Hotel has been acquired for $6.95 million by prominent Sydney pub operators Riversdale Group.
After being ravaged by fire and sitting dormant for five years, Fremantle’s six storey, 100-year old National Hotel has been bought by the Carnegie’s Group. Carnegie’s is expected to start construction on the building in July.
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