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by Marriott Hotel, Palm Cove, Queensland for Approximately US$ 9.2 million |
Brisbane, 20 June, 2002 - Contracts have been
exchanged for the sale of the 189 room Courtyard by Marriott Hotel, Palm
Cove, Queensland. The hotel was sold for A$16 million in a deal brokered
by Mike Batchelor, Executive Vice President of Jones Lang LaSalle Hotels.
Sold with vacant possession, the property was purchased by the Horbelt family, an Adelaide based property investment group. The new owners are considering their options with regard to the future management of the hotel. They are expected to make their decision by the time of settlement, in 45 days. Thakral Holdings Group purchased the 4 star hotel and an adjoining development site for approximately A$21 million in January 2000 in a deal also brokered by Jones Lang LaSalle Hotels. Thakral Holdings has retained the vacant site to for the development
of a resort style serviced apartment complex which will feature 110 apartments,
six villas, a lagoon pool and a restaurant.
Jones Lang LaSalle Hotels, the world�s leading hotel investment services group, provides clients with value-added investment opportunities and advice. |
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Contact:
Jones Lang LaSalle Hotels Fiona Cregan Phone: + 61 2 9220 8786 www.joneslanglasallehotels.com |
Also See | Local Investors Continue to Dominate Australian Tourist Accommodation Ownership / Feb 2002 |