hotels – realestatesource

RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.

The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.

The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.

“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.

Uncategorized

Van Haandel brothers to sell Prince of Wales

May 31, 2009February 19, 2021 Marc Pallisco hospitality, hotels

Restaurateurs Frank and John van Haandel will pocket close to $20 million from selling St Kilda’s Prince of Wales Hotel

Queensland

Redcape Hopes to Recover $24 Million From Pub Sales

September 20, 2010 Marc Pallisco Gold Coast, Hedley, hotels, Illawarra, pubs, Redcape

ASX listed Redcape Property Group will sell two large pubs including the Kirra Beach Hotel in the Gold Coast, and the Lakeview Hotel in Illawarra, in New South Wales.

Redcape, the new name for the Hedley Leisure & Gaming Property Fund, is expected to make about $24 million from the sales.

Recently Redcaoe offloaded the Mountain Creek Tavern at Mountain Creek on the Sunshine Coast for $7.25 million, and the Wattle Grove Hotel in Sydney’s Wattle Grove (for $8.6 million).

National

ALE Property Group to Sell Seven Australian Hotels, as Part of $120 Million Asset Divesting

October 1, 2009 Marc Pallisco hospitality, hotels, pubs

ALE Property Group has earmarked for sale seven hotels in Queensland, South Australia and Victoria in the first tranche of a strategic asset sales program targeted to divest $120 million worth of assets over the next 12 months.

CBRE Hotels and Burgess Rawson have been appointed to steer the sales process, which involves landmark hotels leased to Australian Leisure & Hospitality Group (ALH), which is 75% owned by Woolworths Limited.

The sale follows the highly successful June 2009 auctions of five ALE hotels in Sydney and Melbourne, which were sold under the hammer for a combined $27.8m at yields as low as 5.05%.

Victoria

No Pub is Safe From Alternative Redevelopment

June 16, 2007 Marc Pallisco hotels, No Pub is Safe From Alternative Redevelopment, Real Estate News, victoria

POPULAR hotels in prime suburban strips may not escape the demolition ball either, with recent sharp increases in retail land values also affecting the best use for several of Melbourne’s biggest pubs.