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Sydney hotel takeover

By Paul Johnson on Jan 14, 2006 in Accommodation, Australia, Hotels, Oceania, Regions

The Indian Hotels Company Limited (IHCL), which operates 73 hotels in India and abroad, has announced the purchase of a 100-room, five-year old hotel, located in close proximity to the central business district of Woolloomooloo Bay, Sydney for Australian $36 million. The hotel is currently operated by the Starwood Group and is amongst the top five hotels in Sydney. The management and re-branding of the hotel will begin in February 2006. This follows the earlier takeover of the legendary Pierre Hotel in New York.

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