Pan Pacific to Acquire Hilton Melbourne Airport
Pan Pacific Hotels has entered into a conditional sale and purchase agreement to acquire the Hilton Melbourne Airport hotel in Australia. This continues the group's commitment to expanding its hotel property portfolio and hotel management businesses in the Oceania region.
Pan Pacific Hotels Group's greater growth strategy is to extend its Pan Pacific and Park Royal brands in North America, Oceania, greater China and Asia. Earlier this year, the Group announced its entry into Australia with three hotels - Park Royal Darling Harbour, Sydney, Park Royal Parramatta and Pan Pacific Perth (opening January 6th 2011).
Mulpha Australia
Currently owned by Mulpha Australia and managed by Hilton Hotels & Resorts, the Hilton Melbourne Airport hotel is the only airport hotel in Australia that enjoys direct connectivity with the terminal building. Located on top of the airport's main car park, the landmark hotel currently features 276 rooms, two restaurants and a bar, 14 meeting rooms and well-appointed business and gym facilities.
Pan Pacific Hotels Group is assessing opportunities to rebrand the hotel a Park Royal after the hotel management agreement with Hilton Hotels & Resorts ends next year.
“This acquisition in a key gateway city like Melbourne demonstrates our commitment to growing in the Australian market,” said Pan Pacific Hotels Group president Patrick Imbardelli. “We are excited to have such a great hotel to add to our system. Its commanding location demands attention from both in-bound and out-bound passengers and will do much to enhance greater brand awareness and support our Sydney and Perth hotels with customers from Melbourne.”
Melbourne
Melbourne is Australia's second busiest aviation hub and it currently serves 25 million passengers per year. The airport is located 25 minutes from the CBD and accounts for approximately 21 per cent of inbound passenger movements to Australia. With both domestic and international terminals connected and benefitting from 24-hour curfew-free operations, the airport serves as an ideal arrival port for inbound international business.
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