Luxembourg's AccorInvest sells its Australian hotel portfolio for $300 mln

AccorInvest, a Luxembourger hotel investor, owner and operator, has completed the divestment of its 23-hotel portfolio in Australia.

AccorInvest sold the predominantly freehold portfolio of economy-style hotels, which has more than 3000 rooms nationally, to Australian funds and investment management firm iProsperity Group for $300 million.

The hotels include the 412-room dual ibis Brisbane and Mercure Brisbane CBD hotels, the 296-room Novotel Brisbane, the 250-room ibis Melbourne Hotel, the 200-room ibis Sydney Airport and the 239-room Mercure Perth.

In December 2016, AccorInvest had purchased fifteen of those hotels, all ibis-branded, from the Abu Dhabi Investment Authority for $200 million.