HTL announces sold hotel properties worth $35 million
Contact
HTL announces sold hotel properties worth $35 million
HTL Property Managing Director Andrew Jolliffe has reported to the market the successful settlement of Brisbane's Acacia Ridge Hotel and Sydney's Illinois Five Dock Hotel for a combined total of $35 million in the past week.
-
HTL PropertyThe Illinois Five Dock Hotel in Sydney.
HTL Property has announced increased sales activity throughout the past week, settling about $35 million worth of hotels nationally.
Recent transactions for the company include Brisbane's Acacia Ridge Hotel and Sydney's Illinois Five Dock Hotel.
HTL Property Managing Director Andrew Jolliffe said "history was dotted with clear illustrations highlighting just how indefatigable this industry was".
“A market well and truly exists, and where it does we will be active, present and informative," he said.
At a glance:
- HTL Property has announced national sales totalling about $35 million in the past week.
- Sold properties include Brisbane's Acacia Ridge Hotel and Sydney's Illinois Five Dock Hotel.
- HTL National Director Dan Dragicevich said the agency "had never been busier" than across the past two weeks.
“We separately congratulate our two sets of vendors and purchasers for their professionalism and integrity; and we look forward to working closely with our valued clients to create value and opportunity.
”Now is most certainly not the appropriate time for chest-beating; however equally, now is almost certainly the time when positive and verifiable data should be collated and confidently shared.
The Acacia Ridge Hotel in Brisbane. Source: HTL Property
“It’s more than excusable not to have seen circumstances change in the manner they have; however what is, from an considered investor perspective inexcusable, is to miss the start of any recovery."
HTL Property National Director Daniel Dragicevich said there was a "consistent view held by astute investors" towards June 2020.
“We have quite genuinely never been busier, and never fielded more calls or white-boarded more transaction strategies than we have in the last two weeks,” he said.
“Our successful Vendors and Purchasers on the two material asset settlements this last week all acted deliberately, and with great integrity and a willingness to preserve the strategic imperatives that drew them to the transaction in the first instance.”
“In doing so, they have recognized the near-term benefits of securing what will once again and very shortly represent a heavily pursued high barrier to entry asset."
Similar to this:
HPI planning east coast pub acquisitions
