Developments

NZ co bids for Melbourne Holiday Inn

New Zealand company Priscilla David has acquired the Holiday Inn Melbourne on Flinders, according to Singapore-listed global business Lasseters International Holdings.

Cypress Lakes Property, a subsidiary of Lasseters, has a conditional sale agreement with Priscilla David for the Holiday Inn Melbourne on Flinders for around $50 million.

Holiday Inn Melbourne on Flinders is a four-star hotel on a 1729m² site was refurbished in 2008 and features 202 guest rooms over eight levels.

The property is being sold by Lasseters earlier this year sold out of its Queenstown Casino to SkyCity Entertainment Group.

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