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Accommodation

January

The low Aussie dollar meant that US tourist numbers at the Australian Open were up by 10 per cent this year.

Hotels love that tennis now means ‘spoiling yourself’

Hoteliers have relished the boost from more tourists coming to the tennis this year because of the lower Aussie dollar.

  • Campbell Kwan

They built a $180m office but struggling to get tenants

The vacancies in towers built on the back of private credit come amid difficult times for developers, more of which are falling into administration.

  • Primrose Riordan and Campbell Kwan
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FIFO mining camp operator bleeds cash as losses mount

French company Sodexo’s expansion into Australian FIFO camps has racked up nearly $177 million in cumulative losses over the past nine years.

  • Peter Ker
The Eve’s rooftop pool and deck will be one of its most sought-after spaces.

Room to choose: 11 hotel openings to look forward to in 2025

Australia’s hotel construction boom is in full swing. And that means plenty of fresh options are opening for business in 2025.

December 2024

The hotel is operated by IHG under its luxury Intercontinental brand.

Wealthy families to sell Sorrento’s ‘Conti’ hotel for $180m

The Continental stands at the gateway to some of Victoria’s most expensive real estate, including the clifftop mansion of Portsea owned by Rich Listers.

  • Larry Schlesinger
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The lower levels of the Atlassian tower will house a flagship YHA hostel.

Atlassian tower the next frontier for reborn hostel operator

As it prepares for its most ambitious opening yet, YHA Australia’s business continues to boom as demand for budget stays grows.

  • Larry Schlesinger
The Commercial Hotel in Brisbane is one of three pubs acquired by Redcape.

Redcape bolsters pub portfolio with triple Brisbane swoop

MA Financial’s hospitality group bought the three venues for a combined $66 million following a recent string of asset sales.

  • Larry Schlesinger
The eye-catching 1 Hotel Melbourne will open on the northern banks of the Yarra River in May.

The 16,000-room hotel boom that is yet to slow

The burst of development over the past four years has two more years to run before it slows, a new forecast shows.

  • Larry Schlesinger

November 2024

Jon Adgemis’ private yacht Hiilani, which was once owned by Hollywood star Shirley Temple.

Commonwealth Bank takes control of Jon Adgemis’ yacht

The boat was built in 1974 in Italy and was advertised for sale in 2010 with a price tag of $2.85 million.

  • Primrose Riordan and Sarah Thompson
Selina’s Melbourne CBD hotel at 250 Flinders Street will become a Bounce backpackers.

Backpacker operator Bounce snaps up Selina’s Australian hostels

Hostel operator Bounce will instantly double its network of properties to six with the acquisition of three former Selina hostels in Melbourne and Brisbane.

  • Larry Schlesinger

October 2024

Robert Chamberlain’s Huno Group made a $78.8 million net profit in 2024.

Travel surge cements Young Rich Lister’s new billionaire status

Robert Chamberlain’s Huno Group enjoyed a 25 per cent jump in revenue to more than $232 million, while net profit hit $78.8 million.

  • Yolanda Redrup
Lanson Place is in the old Salvation Army printing press overlooking Parliament Gardens.

Six years on, Lanson Place opens in historic Melbourne building

The $80 million apartment hotel is the Hong Kong chain’s first in Australia, and fills a gap in the market.

  • Larry Schlesinger
Busby’s at Oxford House in Sydney. It is one of the Public Hospitality Group venues that has gone into receivership.

Jon Adgemis allegedly transferred funds out of collapsing pubs group

The high-flying businessman built a hotel empire. But part of the company collapsed, with administrators presenting the initial findings of what went wrong.

  • Primrose Riordan
The acquisition includes 78-room Bannisters Port Stephens

Fund manager snaps up coastal hotels with famed Rick Stein restaurants

Salter Brothers has purchased three Bannisters hotels in Mollymook and Port Stephens that are home to the celebrity UK chef’s famous seafood restaurants.

  • Larry Schlesinger

September 2024

Hotel mogul Jerry Schwartz at his Sofitel Sydney Darling Harbour hotel.

‘Pay to stay’: Average Sydney hotel room rate to hit $426 by 2033

Sydney will be the standout hotel market over the next decade as occupancy rises to 86pc and few new hotels are completed to keep up with demand.

  • Larry Schlesinger
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Holiday home rentals ‘not to blame’ for sky-high UK house prices

A global backlash against Airbnb properties has brewed in recent years, and some cities such as New York are severely restricting the company’s activity.

  • Joe Wright
The harbour of Mikrolimano, Piraeus, Athens,

Greece to ban new short-term lets in Athens for at least a year

Like many other European tourism destinations, Greece must balance a profitable short-stay industry with the needs of locals facing a housing shortage. 

  • Stamos Prousalis and Angeliki Koutantou

Britain’s war on second-home owners is backfiring

Owners of second homes are selling up in record numbers in the wake of higher council taxes and the looming prospect of an increase in capital gains tax.

  • Matthew Lynn
Elanor tried to sell Peppers Cradle Mountain for $100m in 2022.

Investors claim mismanagement of Elanor’s $500m hotel fund

The $500 million hotel fund – part of a $6b real estate platform – is at the heart of refinancing issues facing the ASX-listed fund manager.

  • Larry Schlesinger
Tourists visit the Sagrada Familia church in Barcelona.

Spain’s crackdown on holiday rentals bodes well for luxury hotels

Locals have staged protests, blaming booming short-term holiday lets for soaring costs of housing and crammed city streets.

  • Joan Faus and Corina Pons

Original URL: https://www.afr.com/topic/accommodation-hqg