Courtyard by Marriott Sydney-North Ryde
IHG Hotels & Resorts Expands Sydney Premium Estate With Two Crowne Plaza Rebrands
IHG | July 16, 2024
- Courtyard by Marriott, Sydney-North Ryde and Holiday Inn Sydney Airport to transition to Crowne Plaza brand - The portfolio agreement builds on the existing partnership between IHG Hotels & Resorts and Star Millennium Pty Ltd - Trilogy Hotels will operate both hotels, marking their first white-label hotels in the Australasian IHG estate 16 July 2024, Sydney, Australia: IHG Hotels & Resorts will expand its Sydney premium estate with the addition of two Crowne Plaza hotels, following a strategic portfolio agreement with Frank and Wade Huang of Star Millennium Pty Ltd that will see the rebranding of two well-loved hotels at Sy...
CapitaLand Ascott Trust Divests Two Hotels in Australia for AUD109.0 Million
CapitaLand Ascott Trust | November 7, 2023
Transaction is part of CLAS’ active portfolio reconstitution strategy to deliver sustainable returns to Stapled Securityholders Singapore, 7 November 2023 – CapitaLand Ascott Trust (CLAS) is divesting two mature hotels in Sydney, Australia to an unrelated third party for a total of AUD109.0 million (S$95.6 million[1]). Situated outside of the city centre, the two properties are Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta. The two properties will be divested at about 5% above book value[2] and net proceeds of the divestment is expected to be AUD98.0 million (S$85.9 million). The exit yield[3] is 4.4% and C...
