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News release

Sydney

Rendezvous Hotel Adelaide for sale


One of Adelaide’s finest hotels, the Rendezvous Hotel is being offered for sale through a global expressions of interest campaign. The sale represents an opportunity to acquire an established, five-star freehold hotel in one of Australia’s key growth markets.
Jones Lang LaSalle Hotels’ Executive Vice President – Investment Sales Mark Durran has been exclusively appointed to market the sale of this luxury asset.
Situated on the corner of Waymouth and Bentham Streets in the heart of the Adelaide CBD, the hotel features 202 luxury guest rooms and suites, a licensed restaurant and bar, two conference rooms, a business centre, indoor heated swimming pool, hydrotherapy spa, sauna and gymnasium. The hotel is strategically located within Adelaide’s commercial growth precinct and is set to benefit from a number of commercial office developments which are currently under construction.
“Since opening in 2002 the hotel has developed a formidable reputation and has achieved strong profit growth. With no new supply under construction in Adelaide, together with Adelaide’s strong occupancy rate, the Rendezvous Hotel Adelaide is well placed to enjoy further room rate and profit growth over the medium term,” said Mr Mark Durran, Executive Vice President – Investment Sales. He added, “The hotel is being offered subject to a 15 + 15 year triple net lease with Rendezvous Hotels International. Alternatively, vacant possession is available offering the potential to re-brand and/or re-position the asset.”
Mr Durran noted, “The Adelaide hotel market is tightly held and as such we are expecting a high level of interest from purchasers looking to gain a foothold in the city including passive investors, owner operators and high net worth individuals.”