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News release


Rare Sydney 4.5-star hotel to be offered for sale

JLL appointed to sell Holiday Inn Sydney Airport

JLL Hotels & Hospitality Group's Managing Director of Investment Sales, Mark Durran, has been exclusively appointed to sell the Holiday Inn Sydney Airport hotel, situated in the diverse and growing mascot business precinct less 6.5 kilometres from the Sydney CBD.

The 4.5-star hotel features 250 refurbished guest rooms, a restaurant and bar with gaming room, four conference rooms, heated indoor pool, business centre and extensive underground car parking for 62 vehicles. The hotel is operated under a Management Agreement with IHG expiring in December 2016 when vacant possession will be available.

"We expect the Sydney hotel market to continue to experience strong trading conditions over the near and medium terms" said Mr Durran.

"The Sydney hotel market continues strong growth as one of Australia's best performing hotel markets, with year-to-date July RevPAR increasing 6.6% when compared to the first seven months of 2013, largely driven by Average Daily Rate growth of 4.4% and underpinned by Australia's highest occupancy of 86.6%." Mr Durran added.

"4.5-star offerings of this scale and quality have been scarce in Sydney, Australia's key gateway market, and we anticipate strong interest from both domestic and offshore groups." concluded Mr Durran.

Expressions of interest for the sale of Holiday Inn Sydney Airport close midday (AEST) Wednesday, 1 October 2014.

For further information please contact Mark Durran (02 9220 8793 or 0412 248 243/