2018 is off to an exciting start with the news Ovolo Group has acquired Brisbane's acclaimed Emporium Hotel!
This news follows Ovolo's earlier acquisition of The New Inchcolm Hotel & Suites, which is currently closed for renovations and reopening on 22 January 2018 after receiving its Ovolo makeover. The move marks another milestone for the rapidly expanding Ovolo brand, increasing its number of rooms on offer in Brisbane to more than 150.
As a group aimed at speaking to the ever-changing needs of the modern traveller through sleek interior designs, detail-driven comforts and an all-inclusive service, the addition of the Ovolo signature to Fortitude Valley continues to build on the area's vibrancy and style.
CEO and Chairman of the Ovolo Group, Girish Jhunjhnuwala said: "The Emporium Hotel in Brisbane was an obvious choice for the brand given its incredible success to date, its boutique nature and appealing location in the Fortitude Valley retail and dining precinct. We are excited to take this fantastic property to the next level with Ovolo's signature luxury design interiors and all-inclusive hospitality concept."
Emporium Hotel founder and Managing Director, Tony John, of the Anthony John Group said; "For the past 10 years, the Emporium Hotel team has dedicated itself to providing an award winning, highly personalised, boutique hotel experience. However, we've decided the time is right to sell our Fortitude Valley property, allowing the team time to focus on the 2018 opening of our luxury boutique Southpoint Emporium Hotel."
National Director of CBRE Hotels, Wayne Bunz noted this off-market transaction is a very positive sign for the market.
"The sale highlights investors growing interest in the Brisbane hotel market. CBRE continue to field investor demand for investment opportunities, with the Emporium Hotel sale negotiated in a record time of just four weeks."
Settlement of Ovolo's acquisition of Emporium Hotel is set to be finalised in April after which the hotel will undergo a series of refurbishment and rebranding that will transform it into a distinctly Ovolo hotel.
Founded by Girish Jhunjhnuwala in 2002, Ovolo Hotels has become one of Hong Kong's largest independent owner, operator hospitality firms, by providing business and leisure guests with the best in effortless living. The company keeps in touch with the modern traveller through award- winning interior designs, detail-driven comforts, focused all-inclusive service and cutting-edge ensuite technology, all done in Ovolo's signature style. A proud Hong Kong brand, Ovolo remains a family-owned and privately-operated business with a charitable core.
The company now runs four hotels and a service apartment in Hong Kong, and three hotels across Sydney and Melbourne including Ovolo Woolloomooloo, Ovolo 1888 and Ovolo Laneways.
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