Rydges in Melb for sale

Adelaide-based hotel investor David Horbelt has listed the Rydges on Swanston hotel in Carlton with a $40m ask price

 

Key points:

  • Rydges on Swanston hotel on market for $40m

  • 107-room hotel located at 701 Swanston Street

  • Operated by ASX-listed Event Hospitality & Entertainment

 

Rydges on Swanston has hit the market on behalf of Adelaide-based Hemer Pty Ltd, owned by David Horbelt.

 

The 107-key hotel is operated by ASX-listed Event Hospitality & Entertainment and is being offered not only as a hotel but a potential development opportunity for student accommodation due to its proximity to the University of Melbourne.

 

Mr Horbelt owns Prime Hotels, which has interests in The Reef House at Palm Cove near Cairns and the Rydges South Park Adelaide.

 

In 2016, Aligned bought the 225-room Tune (now ibis) hotel in Carlton for $52 million.