Parramatta: Holiday Inn & Suites at Great Western Highway, Marsden St for sale

One of the world’s most recognisable hotel chains is for sale in Parramatta – where demand for accommodation continues to exceed supply.

The Holiday Inn & Suites at Marsden St and the Great Western Highway at Parramatta.

The four-star Holiday Inn & Suites at Parramatta has been listed for sale and is “sure to attract significant interest from a range of potential purchasers”.

The hotel brand occupied the three-storey building on the corner of the Great Western Highway and Marsden St five years after boutique accommodation called the Marsden Hotel started operating.

Savills Australia and New Zealand has listed the the hotel for sale through a franchise agreement with InterContinental Hotels Group.

Holiday Inn has 37 contemporary elegant rooms and suites over a 632sq m site with a lobby bar, in-house bar and cafe, 24-hour gym, laundry and carpark.

Savills real estate group forecasted demand for hotels in Parramatta would continue to boom because of the “quickly evolving office and entertainment offerings of the city”, increasingly regarded as Sydney’s second CBD.

Savills senior executive of hotels Selin Ince said more growth was predicted for accommodation in Sydney’s west with international visitors, group tour business and the return of corporate travel boding well for hotel owners.

“The Holiday Inn & Suites Parramatta Marsden is a strongly trading asset presenting a high-

yielding investment opportunity sure to attract significant interest from a range of potential

purchasers,’’ she said.

The Holiday Inn at Marsden St will be sold but an Express hotel is expected to open at Smith St in 2024.

Savills hotels executive Nikola Sasic said: “Given the growth of western Sydney and Parramatta’s core, owners of accommodation assets in Parramatta are no doubt set to benefit from the forecasted record level trading incoming, on the back of the sector’s recovery and the suburb’s market fundamentals.

“Given current construction costs, we expect in the medium term that demand for quality

accommodation in Parramatta will continue to exceed supply.”

It said Parramatta was leading the charge in the overall recovery of the accommodation sector in Sydney’s west following the pandemic and lockdowns.

STR research reveals total occupancy in western suburbs hotels reached 68.1 per cent as of July 2023, with further increases expected to exceed the approximately 75 per cent occupancy seen in 2019 because of the major development the city has seen.

The Holiday Inn still has a prominent footprint in Parramatta with its main Anderson St hotel and a 239-room budget-friendly Holiday Inn Express to be built at Smith St over 15 storeys.

There is a wave of other hotels planned for the Parramatta area from luxury digs including the five-star InterContinental and Sheraton in the CBD to the Travelodge at Westmead.

Expressions of interest for the Holiday Inn Suites close on October 31 at 11am.