Hotel For Sale – Quincy Hotel
Melbourne’s award-winning Quincy Hotel, on the iconic Flinders Lane, has been listed for sale by international hotel owner InterGlobe Enterprises.
Opened in early 2021, the hotel represented InterGlobe’s first entry into the Australian market and took their hotel count to 13 properties worldwide.
It was awarded Australia’s Best Upscale Hotel in 2022 by Hotel Management Magazine, making it one of the city’s leading lifestyle hotels.
The purpose-built 29-storey hotel offers 241 guest rooms and full-service amenities including a ground floor café, the award-winning Salted Egg Restaurant and a rooftop club lounge. The hotel is available with vacant procession.
CBRE Hotels’ Tom Gibson, Michael Simpson and Scott Callow are managing the sale via an Expression of Interest Campaign closing August 15, 2023.
“Melbourne has proven its resilience as a hotel market in 2023, emerging as one of Australia’s strongest RevPAR growth markets increasing by 45.3% for year-to-date through May 2023 when compared to the same period through 2022,” Mr Gibson said.
“This is an opportunity for hotel investment groups or owner-operators to secure a recently constructed, institutional-grade hotel offering the flexibility of vacant possession in one of Asia Pacific’s most sought-after markets.”
Mr Simpson added, “Melbourne is recognised as Australia’s pre-eminent cultural and sporting hub. In 2022 the city attracted over 8.5 million overnight visitors and international visitors, which is still 26% off its 11.5 million peak in 2019. The market has considerable growth ahead.”
“The hotel’s location caters to both leisure and corporate demand, providing access to Southern Cross Station, Charter Hall’s $1.5 billion 555 Collins Street office development, Marvel Stadium, Melbourne Convention and Exhibition Centre, Docklands precinct and Crown Casino precinct.”