Main Photo: Holiday Inn Melbourne Airport
Date: April 2020
Location: Melbourne Airport, Victoria, Australia
Name: Holiday Inn Melbourne Airport
No. of Keys: 207
Seller: IHG, who has completed deals of almost 200 hotels as part of its asset-light business strategy, and the sale of the Holiday Inn Melbourne Airport continues that global approach.
Buyer: Pelligra Group, owners of upcoming Holiday Inn Melbourne Werribee and Holiday Inn Melbourne Richmond, has agreed to buy Holiday Inn Melbourne Airport leasehold interest.
The developer will invest in refurbishing the property, bringing it in line with the Holiday Inn’s brand identity.
Abhijay Sandilya, Vice President Development, Australasia, Japan & Pacific said: “We are particularly thrilled to expand our partnership with Pelligra Group. We have a fantastic relationship and together we will open Holiday Inn Melbourne Werribee in 2021 and Holiday Inn Melbourne Richmond in 2023. We’re pleased that the deal means that we not only continue to support IHG’s global strategy, but that the iconic Holiday Inn Melbourne Airport will benefit from a refurbishment.”
Ross Pelligra, Chairman of Pelligra Group, said: “We are very excited to welcome a high performing hotel like Holiday Inn Melbourne Airport to the Pelligra Group, it’s a fantastic asset that fits perfectly into our portfolio. This is a long term investment for us. We have a strong balance sheet and we are committed to keep the hotel trading through the current challenging period and into Melbourne Airport’s new era of expansion, which will include an extensive refurbishment for this great hotel. IHG is a great partner and we are so pleased to work together on so many great projects.”
Pelligra’s portfolio covers commercial, industrial and residential property developments and have established a reputation for turnkey solutions, impeccable project management, and an aptitude for innovation.
THPT Comment: IHG currently has 52 hotels operating under five brands in Australasia, including: InterContinental, Crowne Plaza, Holiday Inn, voco, and Holiday Inn Express. Good to see Pelligra diversifying into hotels.
First Seen: Hospitality On
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