Brisbane's Jephson Hotel sells to Asian investors

Photo courtesy of Google Maps

In Toowong, an inner suburb of Brisbane, Australia, locally based Asian investors have purchased the 51-room Jephson Hotel for $15.8 million, or $310,000 per room. The hotel is about three miles from Brisbane’s inner city district.

“Since opening in 2011, the property has performed exceptionally well,” Colliers International National Director Hotels Neil Scanlan, who marketed the property, said. “As a result, the Expression of Interest campaign conducted achieved significant interest from owner operators and hotel investors…This is a great result as it shows that there are still astute investors looking to capture the potential future growth of the Brisbane hotel market.” 

Scanlan expects that the next several years will “remain strong” for the Brisbane hotel market thanks to “significant infrastructure projects” planned for the City, including the $5.4-billion Cross River Rail and $3-billion Queen’s Wharf development.

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

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.

Earlier this year, we noted that international visitor numbers in Brisbane and southeast Queensland as a whole are also expected to rise as the region prepares for major events, including the Commonwealth Games on the Gold Coast. 

In May, we reported that investors are seeking Australian hotels, but there are few midscale properties available. The Radisson Sydney at Darling Harbour was taken off the market by Ausbao even though was expected to attract more than $40 million. 


Suggested Articles

Lodging owners who have the appropriate resources and capital have an opportunity to renovate at an accelerated rate and at more competitive prices.

The £18.4 million fine stems from a data breach discovered after the company purchased Starwood Hotels & Resorts Worldwide.

There are both positive and negative aspects to utilizing preferred equity capital, but it is often the best way to maintain ownership of the asset.