Largest hotel M&A in 2017
Prince Hotels, a subsidiary of Seibu Holdings will acquire 100 percent of Staywell Hospitality Group in what has been described as Australia’s largest hotel merger and acquisition so far this year.
The transaction value is approximately $50 million. The deal sees Prince Hotels adding 30 hotels, 12 in Australia, to its portfolio.
Prince Hotels owns and operates 49 hotels – 42 of them in Japan.
Michael Simpson and Vasso Zographou from Savills Hotels led the transaction team, supported by Sheriden Bacon and Tom Shadbolt.
Vasso Zographou, Director of Hotels for Savills Australia said the opportunity to acquire Staywell which has hotel operations spanning seven countries attracted Prince Hotels Inc. The current phase of Staywell’s evolution had reached a stage where further capital will assist in funding future expansion and growth.
Michael Simpson, Managing Director of Hotels for Savills Australia said the transaction is a great example of Australian entrepreneurialism creating a highly attractive global management platform.
“The acquisition of the platform enables Prince Hotels Inc. to fast track its global growth through immediate presence in a range of international markets” he said.
The Staywell Hospitality Group operates hotels under the Park Regis and Leisure Inn brands. It also operates a number of properties internationally in Singapore, Indonesia, India, Dubai and Birmingham.
