Savills Hotels has announced the successful sale of the Four Points by Sheraton Melbourne Docklands Hotel, marking a significant milestone in the Australian accommodation industry.
The off-market transaction, valued at an impressive A$96 million, was orchestrated by Savills Hotels through the dedicated efforts of Mark Durran and Nik Sasic, leveraging a confidential off-market international sale process.
MA Financial has entered into binding agreements to acquire the hotel from Singapore-based company Hiap Hoe Limited’s subsidiary Meteorite Land (Pearl River) Pty Ltd. This acquisition not only underscores the hotel’s exceptional appeal but also highlights the growing confidence in Melbourne’s bustling hotel market.
The Four Points by Sheraton Melbourne Docklands is a shining gem in Melbourne’s hospitality landscape. Opening its doors in 2017, this 4.5-star establishment boasts 273 modern and luxurious rooms, state-of-the-art conference facilities, a rejuvenating pool, and an array of delectable dining options at its restaurant and bar.
Mark Durran, Managing Director – Hotel Capital Markets at Savills Australia and New Zealand, expressed his gratitude to Hiap Hoe for their trust in this significant transaction. He also extended his heartfelt congratulations to MA Financial for securing this exciting acquisition for their new hotel fund. Mr. Durran emphasised the growing investor confidence in Melbourne’s hotel market, making it one of the most active hotel markets currently.
Mr. Durran elaborated: “Melbourne stands as a beacon of opportunity for investors. Despite a surge in new supply in recent years, Melbourne’s unique characteristics, including its resilience in absorbing new hotel openings, make it a prime destination for investment.
With international visitation expected to rebound in 2024, Melbourne’s vibrant events calendar, coupled with corporate demand, is set to drive growth in the accommodation sector this year.”
Nik Sasic, Executive, Hotels at Savills Australia and New Zealand, highlighted the strategic location of the Four Points by Sheraton Melbourne Docklands. Nestled near Marvel Stadium, the waterfront entertainment precinct, and the District Docklands Shopping Mall, the hotel is perfectly positioned to capitalise on the rejuvenation and development taking place in this thriving part of Melbourne.
Melbourne’s Hotel Market continues its impressive recovery, with RevPAR (Revenue per Available Room) growth in the year to December 2023 surging 16.4 percent above the prior year,” added Mr. Durran.
“This robust performance further underscores Melbourne’s ability to adapt and flourish, reassuring investors of its continued resilience and promise.
AccomNews is not affiliated with any government agency, body or political party. We are an independently owned, family-operated magazine.