Investors circle Sydney’s Four Seasons

Investors circle Sydney’s Four Seasons
By admin

Local and international investors are circling Sydney's up-for-sale Four Seasons Hotel with strongest interest from Asia and the Middle East, it has emerged.

The deadline for bids is not until April 5 but "a range of investors" are already showing their hand, according to Jones Lang LaSalle, which is jointly marketing the 531-room property.

Groups not currently in the hotel sector have also shown interest in a further sign the sector is becoming attractive to investors.

"We have received substantial enquiry from across the globe, however interest has been strongest from South-east Asia, China, Korea and the Middle East," Jones Lang LaSalle Australasia chief executive Craig Collins said. "It is very encouraging for the Australian hotel market that this campaign has caught the attention of not only traditional hotel investors but also a number of new groups that have not previously considered investing in this sector."

International interest is unsurprising, he added, given that 72% of the $1.44 billion worth of hotels sold in Australia last year went to overseas investors.

Hong Kong investors were the top buyers, followed by companies in Malaysia, Australia, Singapore and China.

Jones Lang LaSalle estimated that hotel transaction volume in Australia this year will hit $1.2b, an increase on the previous forecast of $1b.

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