More broadly, the hotel investment market in the Asia-Pacific thawed significantly last year as travel resumed. A CBRE report recorded $17 billion in transactions across the region, up 46 per cent on 2020.
Dr Sabine Schaffer, managing partner at Pro-invest Group, said with the opening of borders, institutional investors were looking for “yielding” assets rather than development plays.“These are different investors to those who invested in our fund.
He added that the portfolio was operating “really well” with an average occupancy rate of around 60 per cent, Also included in the offering are the 247-room Holiday Inn Express at Sydney Airport and the 345-room Holiday Inn Express in Melbourne’s Southbank.
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