Top Investments & Events in Melbourne 2019 Top Investment & Events in Melbourne 2019 | Page 3

Melbourne’s consistently strong trading performance over many years has now gained the
attention of a wide spectrum of domestic and international investors, developers and operators.
As a result, there were a number of new hotel projects announced throughout the year. This
development activity will see the entry of some quality product and highly anticipated brands
such as Ritz Carlton, Shangri-La and W, which will greatly enhance Melbourne’s hotel offering
and act as a catalyst for accretive ADR growth over the medium term.
The 2018 Melbourne Hotel Market Wrap Up report is available by request only via Peter Harper,
who you contact via the below phone or email.
Peter Harper, Head of Victoria for JLL Hotels & Hospitality Group, said, “Whilst investor interest
remains at an all-time high, transaction activity was limited throughout 2018 when compared
with previous years with only four notable deals occurring for a total volume of just $420 million.
However, this was entirely due to a pronounced scarcity of investment grade stock being
available on the market for sale.”
The market’s standout transaction for 2018 was Brookfield’s sale of the 419 room Pullman
Melbourne on the Park to iProsperity Group (IPG) for $156 million in a deal brokered by JLL. Bell
City in the northern suburbs and the to-be-built Quincy Hotel in the CBD were the other major
assets to transact.