Event Hospitality and Entertainment acquires Mercure Geelong for $25M

In Geelong, Australia, Event Hospitality and Entertainment (previously known as Amalgamated Holdings) has purchased a Mercure Hotel from the local Kildair Hotels Group.

Kildair had owned the hotel for at least 20 years, and sold the property for an estimated $25 million. CBRE agents Rob Cross and Scott Callow negotiated the deal.

Event Hospitality is expected to end the hotel's relationship with AccorHotels and rebrand it as a Rydges Hotel following a major renovation that will likely cost another several million dollars.

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Mercure Hotel’s general manager Phillip O’Brien confirmed the sale. “I can confirm we’ll leave the Accor network on March 1, 2017, as a result of the successful sale of the hotel to a new owner,” he told the Geelong Advertiser.

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