Far East Consortium to sell prestigious Ritz-Carlton hotels in Perth and Melbourne

by

Far East Consortium to sell prestigious Ritz-Carlton hotels in Perth and Melbourne
Image Supplied - CBRE

Hong Kong’s Far East Consortium is moving to sell two of Australia’s most prestigious hotels - The Ritz-Carlton, Melbourne and The Ritz-Carlton, Perth - amid strong demand for trophy luxury hotel investment opportunities in Australia. 

CBRE Hotels’ Michael Simpson, Tom Gibson, Aaron Desange and Vasso Zographou, together with McVay Real Estate’s Dan McVay and Sam McVay, have been appointed to steer the portfolio sale. It  provides an opportunity to acquire a combined 462 luxury hotel rooms managed by the world’s largest hotel operator Marriott International under Marriott’s pinnacle luxury brand, The Ritz-Carlton. 

Image Supplied - CBRE
Image Supplied - CBRE

“The portfolio is positioned across two of the most sought after and resilient hotel investment markets in Australia, offering geographic and financial diversification,” Mr Simpson said. 

“The two hotels have set the benchmark for luxury hospitality in Australia and are well positioned to capture the leisure and corporate markets in Melbourne and Perth, supported by the strength of the globally recognised Ritz-Carlton brand.” 

Image Supplied - CBRE
Image Supplied - CBRE

Opened in March 2023, The Ritz-Carlton, Melbourne is one of the few highest hotels in the southern hemisphere, comprising 257 guest rooms, a 550-seat ballroom, the Atria restaurant, bar and lounge areas, a swimming pool and fitness centre, Spa complex, event rooms and a Level 80 sky-lobby offering panoramic views.  

It was developed as part of Far East Consortium’s West Side Place project, providing the city’s first Ritz-Carlton. 

Image Supplied - CBRE
Image Supplied - CBRE

The Ritz-Carlton, Perth opened in 2019 as the first Ritz Carlton in Australia in over 25 years and as the centrepiece of Far East Consortium’s mixed-use apartment development The Towers. The riverfront hotel comprises 205 luxury rooms, the Hearth Restaurant & Lounge, the Songbird Bar, a spa complex, infinity pool, fitness centre and event rooms. 

Image Supplied - CBRE
Image Supplied - CBRE

The sale campaign aligns with ongoing pent-up demand for hotel investment opportunities in Australia, with new CBRE data highlighting that over $1.2 billion in Australian hotel assets changed hands in H1 2023 - in line with the corresponding period last year and bucking the trend of declining sales in the office, industrial and retail sectors. 

Dan McVay said, “Following years of substantial construction cost inflation, it is now unfeasible to develop world-leading, premium specification luxury hotels in Australia’s capital cities. These Ritz-Carlton’s represent the pinnacle of Australia’s luxury hotel market and are unlikely to see new competition for the foreseeable future.” 

The Expressions of Interest campaign will commence at the end of July 2023. 

Related Content

CBRE Listings

Accommodation For Sale

Latest Industry News


Boutique Apartments & Hotel - 1P6247
High Demand Centrally Located Backpackers Hostel
High Net Holiday Business On The Gold Coast
Invest in Wellington Valley's Future! | Resort Brokers ID : FH008580
Top-Tier Caretaking Agreements with Income Growth Potential - ID 7991
Discover the charm of Whitesbeach Guesthouse—a boutique retreat in Torquay | Resort Brokers ID : FH008574
Strategically located 106 room accommodation village close to perth | Resort Brokers ID : FH008505
Acquire a CBD Hostel with High Occupancy and Great Returns | Resort Brokers ID : LH008567
Escape to World Heritage WA  | Resort Brokers ID : MR008573
Leasehold Caravan Park, Consistent Income and Potential for Growth | Resort Brokers ID : LH008566
4 Acres Caravan/Cabin park. Opportunity for 2 acres Retirement Homes.
SUCCESSFUL AND LUCRATIVE HISTORICAL BUSINESS OPPORTUNITY | Resort Brokers ID : FH008549
Surfers Paradise Prime Management Rights Opportunity
Freehold Motel - Prime Location - Seldom Available
Aratula Village Scenic Rim - Freehold Opportunity not to be missed | Resort Brokers ID : FH008558
Absolute Beachfront Mermaid Beach
Beautifully Presented Holiday Park - Long Lease
Off The Plan Kirra Beach Completion April 2025