Singapore's Stamford Land ponders portfolio sale

Singapore-listed Stamford Land Corporation may be poised to sell its luxury hotel collection. Stamford Hotels and Resorts owns and operates seven hotels with more than 1,700 rooms in Sydney, Melbourne, Brisbane, Adelaide and Auckland. According to the Australian Financial Review, the company's hotels and property development arm generated more than $300 million in revenue and profits of $30 million in 2015. 

Hotels in the portfolio include the 105-room Sir Stamford Circular Quay and the 283-room Stamford Plaza Melbourne. While the portfolio is not currently on the market, senior industry sources told the paper that Stamford is receiving "unsolicited offers all the time," and that the hotels could be worth more than $1 billion. 

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Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

According to CBRE, Australia saw "another record year" for hotel transactions in 2015,  with deals reaching $3.87 billion.  

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