4Hoteliers
SEARCH
SHARE THIS PAGE
NEWSLETTERS
CONTACT US
SUBMIT CONTENT
ADVERTISING
On the Marque, set, gone!
Tuesday, 25th March 2008
Source : Jones Lang LaSalle Hotels
The Marque Hotel Melbourne, one of Melbourne's more stylish hotels, has been acquired by a private property investor for $18.25 million. 

Jones Lang LaSalle Hotels' Mr Mark Durran,  Executive Vice President – Investment Sales, negotiated the sale of the hotel on behalf of its local Melbourne-based owner.

The vacant possession sale represented a yield of approximately 7% and the hotel will be rebranded Urban St Kilda.
"Located in the prime café precinct of Fitzroy Street in the vibrant beachside suburb of St Kilda, the award winning deluxe boutique hotel opened in mid 2003," said Mr Durran. 

The property features 80 guest rooms, a gymnasium, conference and meeting rooms, a licensed bar, café and restaurant, as well as a 40-bay undercover security car-park. 

Melbourne remains a hotel investment hotspot and Mr Durran says "Occupancy rates in the city remain high, often exceeding 80% whilst average room rates are growing at 6%-9% per annum."  He added, " Hotel demand should be boosted further with additional budget airline capacity to Melbourne from Tiger Airways."


 Latest News  (Click title to read article)




 Latest Articles  (Click title to read)




 Most Read Articles  (Click title to read)




~ Important Notice ~
Articles appearing on 4Hoteliers contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.
© Copyright 4Hoteliers 2001-2024 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here
Use of this web site is subject to our
terms & conditions of service and privacy policy