Event Hospitality has acquired the Mercure Hotel in Geelong following a competitive International Expressions of Interest campaign.

CBRE Hotels’ Rob Cross and Scott Callow negotiated the sale of the 4-star hotel, which was predicted to fetch in excess of $25million when it was placed on the market last year. 

Located on the corner of Myers Street and Gheringhap Street, the Mercure occupies a prime 5,991sqm site with three street frontages. 

Mr Cross said; “A key drawcard for the buyer was the opportunity for further development at the rear of the site, which currently operates as a carpark. The area would suit additional accommodation for longer stay such as serviced apartments or could be transformed into residential apartments, student accommodation or offices.”

The hotel, which was first opened in 1971, comprises 138 and a range of recreational facilities including an outdoor swimming pool, spa, gym and Zenith Brasserie and Bar. 

The Mercure Function Centre and meeting rooms serve the growing demand from businesses travelling to Geelong, as the city continues to establish itself as a commercial hub. 

“The hotel is the largest in Geelong and promises a secure investment due to its proximity to Melbourne CBD and the strong corporate base and additional leisure clientele which frequent the hotel,” Mr Callow added.

“We are extremely pleased with the result of the sale, which demonstrates the growing interest in Geelong as a business and tourism destination.”  

Accor Hotels will continue to operate the hotel until March 1st, when the new owners will take over.

See also:

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