Mirae Asset Global Investments acquires Four Seasons Hotel Sydney

One of Sydney's five-star hotels, the Four Seasons Hotel Sydney, was sold for $306.8 million to Korean investors, Mirae Asset Global Investments.

The purchaser, Mirae Asset Global Investments, is one of the largest financial institutions in Korea. Locally, Mirae Asset's investment into the hotel will be managed by Millinium Capital Managers, a Sydney based firm.

The 531-room property overlooking the Sydney Harbour Bridge and Opera House at Circular Quay underwent a $40.6-million refurbishment program over recent years. The renovations saw the addition of a new restaurant, bar and conferencing facilities.

FREE HOTEL MANAGEMENT NEWSLETTER

Like this story? Subscribe to Hotel Design!

Hospitality professionals turn to Hotel Design as their go-to news source for the latest products, projects, and trends for hotel interior designers and architects. Sign up today to get news and updates delivered to your inbox and read on the go.

The property also has a holistic spa, fitness center, heated outdoor pool, business services and the Executive Club on Level 32, with views of Walsh Bay and the city.

Sydney continues to be Australia's hottest hotel investment market accounting for circa 60 percent of the total transaction volume so far in 2013, including the sale of the Ibis King Street Wharf, Diamant Sydney, Mercure Potts Point and Ritz Carlton Double Bay, with more deals expected to occur before the end of the year.

Suggested Articles

The Inn at Elon, owned by an affiliated entity of Elon University, plans to use all revenue beyond operating costs to fund scholarships.

Her Lyda Sofa, Fascio Collection and Crossbeam table all earned recognition from the Chicago Athenaeum Museum of Architecture and Design.

Rob Emberley will lead the Séura marketing team as the company expands digital efforts, reaches into new markets and accelerates product growth.