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News release

Sydney

Holiday Inn Sydney Airport sells for AUD53 million

JLL negotiates sale of 4.5-star hotel


The Holiday Inn Sydney Airport has sold to a private Hong Kong investor for AUD53 million in a deal negotiated through Mark Durran, Managing Director – Investment Sales, JLL's Hotels & Hospitality Group.

The 4.5-star hotel, which recently underwent an extensive refurbishment, features 250 rooms, two restaurants and bars, extensive conference facilities, health and fitness centre and basement parking.

Despite the opening of the Rydges Hotel at Sydney International Terminal in 2013, the Airport market has proven resilient, with latest STR statistics in the year to date October 2014 showing an average occupancy of 82.5% with RevPar up 2.2% over the same period in 2013.