Deal of the Year award 2019-2022
HICAP ANZ honours the companies responsible for the most influential hotel industry deals. The award recognises this deal was not only one of the largest hotel portfolio transactions in Australian history but also one of the most complex.
The portfolio of 10 hotels worth AUD$583M was purchased under a new joint venture with Singaporean sovereign wealth fund, GIC, Salter Brothers, and Switzerland-headquartered Partners Group. It consists of 1,946 midscale hotel rooms located across Sydney, Melbourne, Brisbane, Perth, and Newcastle. As part of its acquisition strategy, Salter Brothers entered into one of the largest hotel management portfolio deals in Australian history, partnering with Accor to rebrand each of the assets on settlement under the Novotel, Mercure, and ibis Styles brands.
On behalf of the firm, we would like to thank our investment partners, GIC and Partners Group, our banking syndicate, ANZ, NAB, Deutsche Bank and Metrics. Additionally we would like to thank our legal advisors Minter Ellison, in particular Joseph Pace, Alice Langham and Adrian Varasso and their teams for their support again on this transaction.
We also congratulate the vendors Mirvac and NRMA, and would like to thank its advisors Allens, Credit Suisse and McVay Real Estate for their work and professionalism on this transaction. Congratulations to the entire Salter Brothers deal team for this well-deserved accolade.