Hotel news, industry deals and market insights.

Glen Waverley’s Novotel and Century City Walk set to be sold
A monster property including the Novotel Melbourne Glen Waverley hotel site is up for grabs and could smash the city’s suburban price record.
Sydney hotel supply sees room rates fall
The long overdue increase in supply of new hotels in Sydney is contributing to a drop in occupancy and average daily room rates, but investors and developers are continuing to spruik hotels for sale.
New operator to boost ‘glamping’ at Sydney’s Lane Cove River Tourist Park
Fresh from its acquisition of Darwin’s casino operations, US hospitality giant Delaware North is continuing its aggressive drive into Australia’s tourism industry, buying the rights to operate and develop the popular Lane Cove River Tourist Park in Sydney.
Accor signs on for new Rouse Hill hotel
Lewis Land Group has struck a deal with French hotelier group Accor to manage a new 78-room mid-scale hotel at Rouse Hill, about 45km from the Sydney CBD.
Manly’s Hotel Steyne could go ‘cheap’
The high-profile owners of Manly’s Steyne Hotel are fielding several offers from local buyers, with the highest bids coming in at above $60 million, well short of the $90 million initially expected by co-owner John Singleton.
Singapore trust pays $60m for Sydney Airport’s Felix Hotel
A Singapore real estate investment trust has forked out $60.6 million buying the Felix by 8Hotels near Sydney Airport, with plans to rebrand the 150-room property as the Citadines Connect Sydney Airport.
Depreciation on commercial property – how does it work?
Often providing annual savings that run into the tens of thousands, commercial property depreciation deductions are too good to miss.
New name, new face for Sydney’s Novotel Norwest
The Novotel Norwest in Sydney’s outer northern suburbs is to be upgraded and rebranded the Rydges Norwest Sydney from April 2.
Race in two for $1bn Hyde Park hotel development
US investment house Starwood Capital has bowed out of the race for a $1 billion 50-level apartment and hotel development fronting Sydney’s Hyde Park after deciding it was too expensive.
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