Budget Hotels Sell For $300 Million

Although only a small percentage of the overall global AccorHotels business, the hotel portfolio that was part of the former Tourism Asset Holdings portfolio has generated a huge local sale for the group. The portfolio was put on the market mid last year through JLL Hotels & Hospitality group’s Craig Collins and Peter Harper.

The collection was comprised of seventeen hotels with a total of 1,797 rooms over four ibis hotels and thirteen ibis Budget hotels, including the ibis Sydney…