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SB&G Hotel Group expands portfolio by a third

Surfers Paradise, Gold Coast

SB&G Hotel Group has moved closer to its target of $1bn of assets with the acquisition of two Queensland-based hotels, located in Brisbane and the Gold Coast, as a result growing the company’s portfolio by a third.

The two Watermark-branded hotels were acquired from Japanese travel company, HIS Co Ltd and the sale marks the first Queensland-based properties to join the SB&G Hotel Group.

The largest of the two hotels is located in the Gold Coast, featuring 388 guest rooms, conferencing and food and beverage facilities, allowing the Group to tap into the local corporate market, while the Brisbane property features 94 rooms.

Managing Director of SB&G Hotel Group, Paul Salter said: “The transaction represents a strong opportunity for growth given the synergies with our existing portfolio of hotels across Sydney, Melbourne and Canberra, acquired in December 2015. The Group anticipates that one of the global hotel brands will be selected for operation of one or both of the hotels moving forward.”

The acquisition is expected to complete before 30th June 2018.

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