United Kingdom
United States
Asia Pacific
Salter Brothers acquires Australia Travelodge hotel portfolio
A portfolio of 11 Travelodge hotels in Australia has been snapped up by a consortium led by hospitality operator Salter Brothers.
They are paying A$620 million in partnership with Singapore sovereign wealth fund GIC and Partners Group for the portfolio which consists of more than 2,000 rooms.
It is the biggest hospitality acquisition of its kind in Australia.
The deal ‘provides an opportunity to capitalise on the long-term relative value of Australia’s hospitality sector,’ Partners Group said.
"We particularly like this portfolio as it provides initial income with potential for further yield through transformational value creation strategies; it also provides a significant foothold from which we can scale towards a larger portfolio over time," said Partners Group MD of private real estate, Rahul Ghai.
The consortium will rebrand the hotels and some will be upscaled.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Abercrombie & Kent hails $500 million funding boost
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Gatwick braces for strike
Co-pilot faints, easyJet flight issues ‘red alert’