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