Far East Consortium to sell Ritz Carlton assets
Image credit: Ritz Carlton
Far East Consortium has appointed CBRE and McVay Real Estate to help them bring two Ritz Carlton hotels in Melbourne and Perth to market.
The asking price? A cool $500 million.
The Melbourne Ritz Carlton opened earlier this year and is the first in the city. The Perth venue has operated for two years.
While the consortium hasn’t held the venues for long, a representative told the Financial Review that the sales are ‘for capital recycling and is consistent with our stated group’s strategy.’
Far East Consortium will retain and focus attention on its other Melbourne and Perth hotels, which are part of the Dorsett Hotels portfolio.
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