JLL Hotels & Hospitality Group is pleased to exclusively bring to market, for sale via Expression of Interest, the Mayfair Hotel, Adelaide, one of Australia's most well-known and established hotels.

Located at 45 King William Street in the heart of Adelaide's CBD, the Mayfair Hotel occupies a prime position at the intersection of King William Street and Hindley Street. The 170-room luxury hotel is housed in a state-heritage listed 1934 Neo-Romanesque building, seamlessly blending history with modern luxury.

Known for both it’s popular Hennessy Rooftop Bar, as well as the Mayflower Restaurant, the hotel features an array of public spaces that also include meetings and event space, which complement the timeless design seen throughout the hotel rooms and suites. The hotel is being offered vacant possession of brand and management.

Peter Harper, Managing Director and Head of Investment Sales Australasia at JLL, commented, "The Mayfair Hotel represents a genuine one of a kind and is a quite unique opportunity to acquire a landmark asset in one of Australia's fastest-growing capital cities. Its unique architectural design, prime location, and solid financial performance make it an attractive proposition for investors looking to capitalise on Adelaide's growing tourism and business sectors."

Adelaide has experienced a renaissance over recent years, and i has a thriving events calendar, being driven by a range of cultural and sporting events. These include the long-standing Adelaide Fringe Festival which sells over one million tickets annually, whilst a range of national and internationally significant sporting events are held at the iconic Adelaide Oval.

The city is firmly represented on the Australian tennis circuit, hosting major players from across the globe for the Adelaide International whilst recent additions to the city’s and Australia’s sporting calendar include LIV Golf, which this year will take place in February – the best attended event in the signature series’ global calendar.

The city is not only an event destination though, and is now viewed as a truly international metropolis that has benefitted from significant investment.

Notable investments include the city’s airport, which is already home to a multitude of international carriers including Singapore, Qatar and Etihad, and will see approximately 1 billion dollars of upgrades in a cycle that runs until 2028.

The new Woman’s and Children’s hospital is a 3.2 billion investment for the city with works already underway, and scheduled for full completion in 2030 – 31, whilst the Port Adelaide Renewal project is a one billion dollar plus revitalisation highlighting the growth occurring outside of the CBD also.

Gus Moors, Managing Director at JLL Hotels & Hospitality, noted, "With Adelaide's continued infrastructure investments and its position as a key business and leisure destination, the Mayfair Hotel is well-positioned for future growth. With vacant possession of brand and management available, the opportunity for an incoming owner to implement their own branding and management strategies adds another layer of appeal to this already exceptional asset."

The Adelaide market has seen robust fundamentals and, as with other Australia capital cities, witnessed a repositioning of ADR in recent years, with 2024 rates sitting 35% above those achieved in 2019 and RevPAR up 19% for the same period.

New product in the market is expected to help further push rate ceilings as Adelaide’s momentum continues to build.

Looking at capital trends in the hotel sector currently and anticipated investor interest in the Mayfair, Executive Vice President, Adam Bury concluded, “We have seen a notable increase in investor confidence on recent offerings that have been taken to market, with competitive bidding being seen on a number of transactions.

Investors have greater visibility on the interest rate cycle, and recent inflation numbers support a softening in rates during the first half of 2025. Growth in trading fundamentals across markets now looks locked in, providing confidence in forward projections, whilst construction costs are stabilising for those looking to value add.”

Commenting on specific buyers likely to be active, Bury continued, “Interest from Southeast Asia investors, particularly high net worths, remains solid and we anticipate this increasing further given the value seen in the Australian Dollar, whilst both domestic fund managers and privates have notable dry powder to be deployed. We’re excited to see the interest here and anticipate another competitive scenario”.

Expressions of Interest for the Mayfair Hotel, Adelaide are being managed by JLL Hotels & Hospitality Group. For further information, please contact Peter Harper, Adam Bury, Gus Moors or Ben Parkinson.