KSL Capital Partners, LLC (KSL) announced today that an affiliate of KSL has acquired the Four Points by Sheraton Sydney, Central Park for an undisclosed amount.

It will continue to be operated by Marriott International under the Four Points by Sheraton brand. While KSL has already invested in Ballie Lodges in Australia, this is KSL’s first investment in Sydney.

The Hotel Conversation reported the deal back in May 2021, as one of the largest single asset hotel transactions to date in 2021, and that the Schwartz Family Company has entered into binding agreements to sell its Four Points by Sheraton Sydney, Central Park to a North American Private Equity firm in a deal brokered through JLL Hotels & Hospitality Group’s Managing Director, Mark Durran.

KSL have not disclosed the sale price, however in May 2021, the sale price was understood to be approximately $150 million.

“KSL Capital Partners’ primary focus is to invest in high-quality travel and leisure properties with outstanding management teams,” said Siddhant Jhunjhunwala, Vice President, KSL. “Sydney is one of the strongest long-term Asia Pacific tourism destinations and has historically outperformed all other Australian gateway cities. This is a rare opportunity to expand our portfolio with an upscale, strategically- located asset in this highly sought-after market.”

Newly opened in 2018, the Four Points by Sheraton Sydney, Central Park features 297 guest rooms, including 45 suites. Amenities include a bar, restaurant, fitness center, 50 dedicated car parking spaces and over 500 sqm of conference and meeting space. Planned capital improvements include repurposing existing meeting space and enhancing food & beverage concept offerings.

The property is strategically located at 88 Broadway, Chippendale NSW and forms part of the Central Park mixed-use development, adjacent to Sydney’s emerging “Silicon Valley”. It is within close proximity to a number of major corporations, University of Technology Sydney, the vibrant Chinatown, Surry Hills, University of Sydney, University of Notre Dame, and the Darling Harbour convention and entertainment precinct. The hotel is served by Central Station, one of the main public transport hubs in Sydney for trains, buses, the recently opened light rail and the forthcoming metro currently under construction.

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