Marriott Vacation Club acquires Australia resort for $90M

Timeshare operator Marriott Vacation Club acquired the Surfers Paradise Marriott Resort and Spa In Australia in a deal worth at least $90 million.

The sale, being negotiated by McVay Real Estate, is just below the $100-million price Indonesia’s Rajawali Property Group originally expected. The hotel completed a $20-million refurbishment in 2011.

The 329-room hotel has 14 conference and event areas and a saltwater swimming lagoon.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

Should all of 2020's scheduled hotels come online as planned, China will open the most new rooms next year since the cyclical peak in 2014.

The debuts consist of a Hampton Inn, a Tapestry Collection and a Homewood Suites and total 410 rooms.

DTZ Investors has purchased the property along with other real estate for more than £70 million.