After several years of first creating and then operating Hotel Hotel and hatted Monster Kitchen and Bar, artisan-focused property developer and creative production house Molonglo Group has sold the hotel and Monster businesses to Ovolo Hotels. 
 
The private sale between Molonglo Group and Ovolo includes the businesses, operations and the staff working and caring for the hotel and restaurant. The negotiation was facilitated by National Director of CBRE Hotels, Wayne Bunz. As owners of the NewActon Precinct and the Nishi building (home to Hotel Hotel), Molonglo Group will continue to activate the precinct through its cultural program.
 
All current employees at the hotel and restaurant will be retained with the changes representing increased opportunities for current staff to travel and work on a broader range of Ovolo’s projects nationally and internationally.   
 
This move represents the Ovolo Group’s continued aspiration to explore the hotel landscape and their interest in taking on additional management arrangements with other select boutique hotels in the near future. 

“Ovolo has been well received in Australia and we are proud to bring our signature concept to the Australian capital. We believe this venture is the perfect alignment and are delighted to be associated with this property,” said Girish Jhunjhnuwala, CEO of Ovolo Group.

“This marks an exciting time for Ovolo and we look forward to entering the Canberra market with this incredible asset,” said Dave Baswal, COO of Ovolo Group.

“We’re very excited to extend our footprint in Australia, covering the key metro regions of Sydney, Melbourne, Brisbane and Canberra,” said Raphael Antonini, Acquisitions and Development Director of Ovolo Group.
 
“We wanted to do something special in both Canberra and Australia, and I think we’ve achieved that. Hotel Hotel was the physical manifestation of ideas that we had been exploring for several years - about architecture, design and furniture, and how they can help us to evolve and expand Canberra’s civic sense of itself with others,” said Nectar Efkarpidis, director of Molonglo Group. 
 
Ovolo Hotels will now operate in Hong Kong, Sydney, Melbourne, Brisbane and Canberra, signalling rapid expansion for the company with three new hotels joining its portfolio in the last six months. 

To discuss the transaction in further detail, phone or email Wayne Bunz of CBRE via the below contact details.

See also:

New luxury hotel for Canberra's historic West Block buildings

Canberra CBD's new $100 million hotel opening in 2020

Mantra converts Canberra office tower to hotel for $19 million