The Intercontinental Sydney Double Bay has sold for $180 million, with reports that Melbourne property developer Fridcorp is the likely buyer.
The hotel was previously owned by Chinese private equity group Shanghai United who acquired the hotel for $140million in 2019.
The site has a chequered history, beginning life under the Ritz Carlton brand in the 1990s before rebranding to Sir Stamford Double Bay in 2001. It eventually fell into disrepair before being bought in 2013 by Singapore’s Royal Hotel group, who refurbished it.
The hotel has been a favourite with celebrities, with former Australian Prime Minister Bob Hawke marrying Blanche d’Alpuget at the hotel in 1995.
One year later INXS singer Michael Hutchence died in one of the rooms in controversial circumstances.