Top Sydney Hotel on Sale as Tourists Return
Sydney, Australia – The Shangri-La Hotel, one of Sydney’s most iconic hotels, has been put up for sale as the city’s tourism industry bounces back from the COVID-19 pandemic. Located in the heart of The Rocks, the 5-star hotel offers stunning views of Sydney Harbour, the Sydney Opera House, and the Harbour Bridge. It features 565 luxurious guest rooms and suites, as well as an array of amenities including multiple restaurants, a spa, and a fitness center. The sale of the Shangri-La is being handled by JLL Hotels & Hospitality Group, with expressions of interest due by March 31st. The hotel is expected to fetch a price tag of around $1 billion, according to industry sources. The sale comes as Sydney’s tourism industry is experiencing a strong recovery after the pandemic. In the past six months, international visitor arrivals to Sydney have increased by more than 50%, and hotel occupancy rates have rebounded to pre-COVID levels. “Sydney is once again a major destination for tourists from around the world,” said JLL Hotels & Hospitality Group’s managing director, Mark Durran. “The sale of the Shangri-La Hotel represents a unique opportunity to acquire a trophy asset in one of the world’s most vibrant and in-demand markets.” The Shangri-La Hotel has a long and distinguished history in Sydney. It opened in 1991 and quickly became one of the city’s most popular hotels. It has hosted numerous high-profile events, including the G20 summit in 2014. The sale of the Shangri-La is expected to attract interest from both domestic and international buyers. It is seen as a rare opportunity to acquire a world-class hotel in such a prime location. “The Shangri-La Hotel is a true icon of Sydney,” said Mr. Durran. “It is an exceptional property that will undoubtedly generate strong interest from investors looking for a long-term investment in one of the world’s most sought-after destinations.”
Top Sydney Hotel on Sale as Tourists Return
Sydney, Australia
– As international tourism rebounds, the iconic Four Seasons Hotel Sydney is up for sale, offering a rare opportunity for investors to acquire a piece of the city’s luxury hospitality market. The 57-story landmark, located in the heart of Sydney’s CBD, has been placed on the market by JLL Hotels & Hospitality Group with an asking price of around $500 million. The hotel boasts 531 guest rooms and suites, including the lavish Royal Suite, which spans over 1,000 square meters. It also features multiple dining options, including the award-winning AER Restaurant, a spa, a fitness center, and extensive conference and event facilities. According to JLL, the sale is expected to attract interest from both domestic and international investors who recognize the potential of Sydney’s recovering tourism sector. “The Four Seasons Hotel Sydney is a truly iconic asset in one of the world’s most desirable destinations,” said JLL’s Managing Director of Hotels & Hospitality, Craig Collins. “With borders now fully open and demand for travel surging, this is an exceptional opportunity to acquire a flagship hotel in a market that is poised for strong growth.” The sale comes as Sydney’s tourism industry experiences a resurgence following the easing of COVID-19 restrictions. The city has welcomed a significant increase in international visitors in recent months, driven by the return of major events and the reopening of Australia’s borders. The Four Seasons Hotel Sydney is expected to benefit from this influx of tourism, as it is one of the most recognizable and well-established luxury hotels in the city. Bids for the hotel are due in mid-March, and JLL anticipates a highly competitive process.