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June 2012 - Targeting investors around the world, JLL Hotels & Hospitality Group harnessed their global footprint to secure the sale of the Sydney Harbour Marriott (563 rooms), Melbourne Marriott (186 rooms) and Brisbane Marriott (267 rooms) as a portfolio, on behalf of Colonial First State.
The three recently refurbished five-star hotels, each located in prime CBD positions were personally presented by JLL core project team to target investors throughout Asia, USA, UAE and Australasia.
This integrated, worldwide marketing initiative gave rise to many competitive initial Expressions of Interest. The final outcome was the successful sale of the portfolio to Malaysian-listed Starhill REIT, which at the time represented the largest hotel transaction by total value to ever occur in Australia.
"This major investment of a new entrant into Australia’s hotel sector represents a huge vote of confidence in Australia’s hotel sector and its future growth prospects." Craig Collins, CEO - Australasia, Hotels & Hospitality Group.
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