ErdiGroup Chief Executive, Ricky Jeffs today announced it has finalised the sale of Hotel Urban Brisbane, allowing it to further focus on its existing core assets and on growing its businesses in Melbourne and Sydney.

Originally announced in April 2018, the sale of Hotel Urban Brisbane has now been completed with Facilimate confirmed as the buyer.

Facilimate Group will take full ownership of the property as of today, including management of the hotel which will be rebranded as Pacific Hotel Brisbane, with all staff will be retained by new management.

ErdiGroup purchased the property in 2006 and embarked on a $10 million transformation with the hotel launched as Hotel Urban Brisbane, forming part of ErdiGroup’s boutique Urban Hotel Group property brand.

The hotel offers 179 rooms and suites, restaurant, bar, swimming pool, gymnasium, and large conference and event facilities. It is situated in an elevated position with expansive views over the Roma Street Parklands, CBD, and Brisbane river.

Neil Scanlan, National Director, Hotels at Colliers International told The Hotel Conversation, “Last year Brisbane’s occupancy rate reached 73.1% reflecting a 3.2% growth yoy. This is the first growth in occupancy that Brisbane has experienced since 2014 and clearly indicates a strengthening demand in the Brisbane market.”

"The hotel is positioned directly adjacent to the proposed $2 billion Brisbane Live precinct which will be built across Roma Street Station and Brisbane Transit Centre," added Leo Carne, Executive, Hotels at Colliers International. 

After several years of new hotel development applying pressure to the Brisbane hotel investment market, Brisbane has led the way with recent significant room demand increases, contributing to an increase in overall hotel RevPAR performance. 

ErdiGroup recently announced significant changes to several of its properties including the refurbishment of Novotel Geelong and The Swanston Hotel, Grand Mercure in Melbourne and continues to support charities through The Eva and Les Erdi Humanitarian Charitable Foundation.

To discuss the sales in further detail contact Neil Scanlan or Leo Carne of Colliers International via the below contact details.

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