McVay Real Estate and Credit Suisse have sold The Travelodge Hotel Portfolio (the ‘Portfolio’ or ‘Offering’).
The Portfolio was the largest hotel portfolio ever to be offered for sale in Australia. The Sydney centric portfolio represented an opportunity to gain immediate scale via a Portfolio acquisition and provides access to Australia’s four largest capital city markets for tourism spend (Sydney, Melbourne, Brisbane, Perth).
It comprised of 11 high-quality hotels, in addition to the renowned Travelodge Hotels brand, which operate 18 hotels across Australia and New Zealand (including the 2,032 hotel rooms within the Portfolio).
Sam McVay Managing Director of McVay Real Estate told Williams media, “the campaign highlighted positive buyer depth and global interest and is a great indictator for Australia’s future, we are seeing this across the board all sectors which is really encouraging.”