Salter Brothers multimillion dollar aquisition of Sofitel Adelaide Hotel
Sale of the award-winning 251-key Sofitel Adelaide Hotel sets benchmark for the Adelaide luxury hotel market with a record price achieved
CBRE Hotels together with Savills negotiated the sale of the 251-key hotel for approximately $154,000,000 on behalf of South Australian development and construction firm Palumbo Group.
Our latest AccomNews print issue is available now. Read it HERE
CBRE Hotels Managing Director Michael Simpson said: “The sale of the Sofitel Adelaide represents Adelaide’s most significant single asset hotel transaction.
“The developers, who were the vendors in this transaction, literally poured their heart and soul into delivering what is arguably the best internationally branded luxury hotel in Adelaide.
“The sale of the Sofitel Adelaide has reset the benchmark for the Adelaide luxury hotel market with a record price per key achieved for a CBD asset.”
The much-anticipated opening of Sofitel Adelaide in September 2021 marked the luxury brand’s debut in South Australia. It’s also the first internationally recognised five-star hotel to be built in Adelaide in 30 years.
At the time, then Accor Pacific CEO, Simon McGrath, said: “Distinguished by its bursting calendar of cultural events and flourishing passions for gastronomy, fine wine, music, fashion and design, Adelaide is an ideal destination for our Sofitel brand. The hotel’s design reflects the distinct sense of style and sophistication of Sofitel. Sofitel Adelaide is one of our biggest hotel openings of 2021 and its level of luxury and onsite amenities will ensure it’s one of Adelaide’s most illustrious new destinations.”
Read more about Sofitel Adelaide Hotel HERE
Mandy has over two decades of experience in accommodation and tourism industry writing, and she is also an accomplished editor and publisher. As co-Director of Multimedia Pty Ltd, a trusted B2B content provider for the accommodation and education sectors in Australia and New Zealand, she oversees high-quality print and digital content across notable publications, including AccomNews, Resort News, and School News, along with the property listing platform AccomProperties. Mandy’s contributions have been recognised with the Female Leader Award at the Best of Tourism 2023 and the ARAMA Life Member Award in 2024.