The sale, negotiated by Mike Batchelor, executive vice presidentof Jones Lang LaSalle Hotels, is the fourth hotel to be sold inQueensland this year. "This is in contrast to the previous year,when only one major hotel sale was achieved," says Batchelor."Clearly, investors are keen to take advantage of the recovery ofQueensland's major hotel markets." He adds that another two tothree more Queensland sales are expected to be closed by year'send.
"Interestingly, domestic Australian buyers have dominated thehotel investment market in Queensland. This is in contrast to theflurry of investment activity by Asian investors recently seen inNew South Wales," said Mr Batchelor.
Speaking to GlobeSt.com, JLL officials declined to revealdetails of the Clarion transaction, including the sale price.
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