Hong Kong’s Far East Consortium is putting two of Australia’s prestigious Ritz-Carlton hotels on the market in a major portfolio sale.

The Ritz-Carlton, Melbourne and The Ritz-Carlton, Perth – which are under management of Marriott International – represent a combined 462 luxury hotel rooms.

CBRE Hotels’ Michael Simpson, Tom Gibson, Aaron Desange and Vasso Zographou, along with McVay Real Estate’s Dan McVay and Sam McVay, have been appointed to lead the sale,

“The portfolio is positioned across two of the most sought after and resilient hotel investment markets in Australia, offering geographic and financial diversification,” said Simpson.

The Ritz-Carlton Perth

“The two hotels have set the benchmark for luxury hospitality in Australia and are well positioned to capture the leisure and corporate markets in Melbourne and Perth, supported by the strength of the globally recognised Ritz-Carlton brand.”

Ritz Carlton Melbourne

Amid strong demand for luxury hotel investment opportunities in Australia and high construction costs, Dan McVay said the sale presents a major opportunity.

“Following years of substantial construction cost inflation, it is now unfeasible to develop world-leading, premium specification luxury hotels in Australia’s capital cities,” he said.

“These Ritz-Carlton’s represent the pinnacle of Australia’s luxury hotel market and are unlikely to see new competition for the foreseeable future.”

The Ritz-Carlton, Perth – which opened in 2019 – was the first Ritz Carlton in Australia in over 25 years.

The riverfront hotel forms the centrepiece of Far East Consortium’s mixed-use apartment development The Towers, and comprises 205 rooms, the Hearth Restaurant and Lounge, the Songbird Bar, a spa, infinity pool, fitness centre and event rooms.

The Ritz-Carlton, Melbourne just opened in March this year as part of Far East Consortium’s West Side Place project. It is one of the few highest hotels in the southern hemisphere and welcomes guests through a Level 80 sky-lobby. The hotel features 257 guest rooms, a 550-seat ballroom, Atria restaurant, bar and lounge areas, a swimming pool and fitness centre, spa, and event rooms.