The acquisition by Salter Brothers of the Australia Post Super hotel portfolio in December 2015 was formally recognized recently at HotelsWorld 2016 as the ‘Best Hotel Deal over $100 million” for the 2015/2016 financial year.
The portfolio, managed by global operator InterContinental Hotel Group (IHG), has a specific focus on East Coast CBD and consists of 5 hotels across Sydney, Melbourne and Canberra.
HotelsWorld is the region’s leading event for hospitality industry leaders and the two Hotel Deal of the Year awards are chosen by a panel of pre-eminent industry professionals. The eagerly awaited awards are determined from the viewpoint of a purchaser (rather than the seller), thereby recognising the strategic value of the portfolio and represents a strong entry by Salter Brothers into the hotel sector.
“Salter Brothers was a clear winner in the over $100 million category’’, said John Smith, CEO of HotelsWorld and HTL Capital Advisers. “The judges’ assessment of the Salter Brothers deal recognized the high quality assets acquired at an individual asset level and as a portfolio and I expect that the portfolio’s mix of property types and geographic spread, which provides a stong investment hedge, also impressed the judges” said John.
Robert Salter, CEO of Salter Brothers, in accepting the award, said “The Australian hotel sector represents an attractive investment at present as CBD supply is constrained and demand is growing, particularly from Chinese tourists taking advantage of the lower Australian dollar.”
Mr Salter added, “We have purchased a high quality portfolio and we believe there are a number of value added development opportunities at our hotels that will generate solid returns for our investors.”
For further information contact:
Paul Salter | Managing Director