Vibe Hotel Darling Harbour Sold for AUD108 Million in Sydney

Main Photo: The Vibe Hotel Darling Harbour

Date: March 2020

Location: Darling Harbour, Sydney, NSW, Australia

Name: The Vibe Hotel Darling Harbour

No. of Keys: 145

Seller: The property was developed by Australia-based property group, Icon Oceania Corporation Private Limited, with investments from Asia Pacific fund manager, Aura Group Private Limited, and Australia-based Karbon Property.

In 2016, Icon Oceania acquired the site for AUD21.35 million from two private investors and signed the hotel management agreement with Australia-based Toga Far East Hotels. TFE Hotels’ portfolio includes five hotel brands – Adina Hotels, Vibe Hotels, Travelodge Hotels, Rendezvous Hotels and TFE Hotels Collection.

The hotel group has 73 hotels across Australia, New Zealand, Germany, Denmark and Hungary, with another 30 in its development pipeline.

Buyer: The Vibe Hotel Darling Harbour was sold to a family that owns Thailand-based food import businesses, Sino-Pacific Trading Company Limited for AUD108 million. The Savetsomphob family is a first-time buyer in the Australian hotel market and also owns the 79-key Intercontinental Samui Baan Taling Ngam Resort in Koh Samui, Thailand. The hotel opened late last year at 319-325 Sussex Street, Sydney Central Business District, and features 145 modern guest rooms, a landmark rooftop bar and swimming pool with view of the city’s skyline.

Price: AUD108m

Price per Key: AUD744,828

THPT Comment: A new-entry into the Australian market…good luck to them

First Seen:  HVS Asia-Pacific Newsletter

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