Overview
Mirvac Wholesale Hotel Fund
Mirvac Wholesale Hotel Fund is an open-ended, sector specific Fund with initial investor equity of $341 million and a portfolio of seven Australian hotels located in Sydney, Melbourne, Brisbane and Cairns. Total value of the portfolio is $527 million.
The Fund's portfolio consists of four hotels acquired from the Carlton Hotel Group in 2007, together with the Marriott Hotel Sydney and a 50 per cent interest in The Sebel Cairns, both of which were acquired from Mirvac in June 2007. All seven hotels are of a 5.0 to 4.5 star standard and provide a total of 2,024 rooms.
Mirvac's hotel and resorts division, who currently manage over 40 hotels and resorts throughout Australia, New Zealand and the Pacific are responsible for the hotel management of six of the hotels in the portfolio.