aims to improve the utilization of the hotels through initiatives including rebranding, select upscaling, and widening their visibility through the expansion of loyalty and rewards programs across a wider distribution channel.
Rahul Ghai, Managing Director, Private Real Estate, Partners Group, quoted that: “Given our Relative Value approach, we have been monitoring Australia’s hospitality sector over the last year for value-add opportunities created by the fall-out from COVID-19. This portfolio represents an excellent opportunity to acquire well-located assets and gain immediate scale in the sector at a discount to pre-pandemic prices. 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.”
Euan Kennedy, Member of Management, Private Real Estate, Partners Group, Further stated that: “Although international travel remains restricted, there is some evidence of a steady economic recovery in Australia. Rising rates of vaccination are likely to support the progressive reopening of the economy and bode well for increased room penetration from both domestic and foreign travelers over the course of our investment. We are looking forward to working with our experienced operating and capital partners on this exciting opportunity.”
The portfolio represents Partners Group’s third direct real estate investment in Asia so far this year. Partners Group’s Real Estate business has USD 17 billion in AuM and has invested USD 22bn since inception.
Partners Group was advised by Clifford Chance and Ernst & Young.
