MELBOURNE: TA Enterprise Bhd has acquired the five-star Westin Melbourne Hotel for about A$160mil.
CB Richard Ellis hotels directors George Nicholas and Scott Callow negotiated the sale which saw offers by offshore investment groups from the Middle East, Asia and the United States.
The property was sold on behalf of a consortium of industry super funds. Nicholas described the sale as a “vote of confidence in the Australian hotel investment market”.
The Westin Melbourne, popular with Malaysian officials and businessmen, is at the corner of Collins and Swanston streets.
By Bernama
Friday, January 23, 2009
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