Surging inbound tourism will help boost Australia's hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.
The five-star city centre hotel occupies a 8,139sqm site and comprises 324 guest rooms, 11 conference and meeting rooms, a lobby bar, a day spa and gymnasium facilities, and basement parking for 184 cars.
The Elanor Hotel Accommodation Fund, managed by Elanor Investors Group, has sold the Leura Gardens Resort just under 12 months after acquisition.
Located adjacent to the University of Southern Mississippi, the Hotel benefits from its proximity to neighboring higher education and medical institutions, expansive government/military networks, and the city's primary commercial corridor along Interstate 59 and Hardy Street.
CBRE Hotels, as sole and exclusive agent for the owner, has been retained to offer for sale the boutique, fee-simple, 101-room enVision Hotel Boston-Everett.
The Sands Torquay, a recently refurbished, four-star resort and golf course, has been listed for sale on behalf of the Receivers and Managers. The sale will include all Freehold land and buildings along with the business with Vacant Possession.
CBRE Hotels has expanded its national hotel platform with the appointment of industry professional Taylor Morris as Senior Negotiator.
CBRE Hotels presents the opportunity to acquire the fee-simple interest in the 83-room Regalia Hotel and Conference Center in Lake Ozark‚ MO.
The freehold interest in the Pacific Hotel Brisbane has been sold to the Gold Coast based Singh Enterprises for $44.8 million.
January's total revenue growth of 3.0% failed to offset the 220-basis point contraction in margins, causing a 5.7% decrease in GOP dollars as labor costs from rising wages continued to pressure operating profit.