KKR has bought the five-star Sofitel Sydney Wentworth in Sydney for A$315m (鈧�204m) from Singapore-listed Frasers Hospitality Trust.

It is KKR鈥檚 first foray into a major hotel acquisition in Australia, although it bought a A$200m portfolio in 2019 from a supermarket chain Coles.

鈥淲e can confirm that KKR has acquired Sofitel Sydney Wentworth,鈥� said s KKR spokesperson.

鈥淲e are excited to invest behind one of Australia鈥檚 most iconic hotels in Sydney鈥檚 financial district, and to continue working closely with Accor to enhance its offerings to both corporate and leisure guests while retaining its unique qualities and heritage.鈥�

Sofitel Wentworth, a heritage-listed hotel, sits on freehold land and comprises 436 guest rooms and suites with a gross floor area of 33,589sqm spread over 17 levels.

Eu Chin Fen, CEO of the managers of Frasers Hospital Trust, said, 鈥淭he divestment is in line with our active portfolio management strategy to periodically evaluate divestment opportunities to recycle capital for better returns.鈥�

Frasers group acquired the hotel, built in 1966, for around A$200m in 2014.

To read the digital edition of the latest 91传媒在线 magazine click here. 

Topics