Salter Brothers has secured the keys of luxury South Australia hotel, Sofitel Adelaide, with the global fund manager confirming settlement of its AU$154m acquisition.
The 5-star hotel on Currie Street, which opened in 2021, is managed by Accor and consists of 251 guestrooms and suites, Garcon Bleu restaurant, two bars, as well as extensive leisure facilities and meeting spaces.
“We are delighted to expand and strengthen our ongoing relationship with Accor,” said Salter Brothers Managing Director, Paul Salter.
“We now have two luxury lifestyle properties in South Australia – including the recently acquired Kingsford The Barossa.
“Leisure travel is forecast to steadily increase in 2024, with events such as LIV Golf Adelaide virtually sold out, so we are very excited about the region as a destination.”
The hotel is the first asset acquired in Salter Brothers’ Core Hospitality Real Estate Fund, which is focused on newer upscale and luxury hotels with broad appeal that require little to no front-end capital expenditure.