Singapore’s Ascott REIT has acquired the Felix Hotel at Sydney Airport for $60.6 million.
The acquisition of the 150-room hotel brings its Australian hotel portfolio to over 900 rooms across six properties and gives it two hotels at Sydney Airport.
The trust already owns the neighbouring Quest Mascot Apartment Hotel as well as the Quest Campbelltown and Quest Sydney Olympic Park. It also owns the Citadines St Georges Terrace Perth and Citadines on Bourke Melbourne.
Developed by a group of local investors, led by Sydney developer Felix Milgrom, the hotel had been on the market since opening for business at the start of 2018.
Previously operated by Fischmann’s 8Hotels, the hotel will be rebranded as Citadines Connect from May and managed by The Ascott Limited.