The 782 room hotel portfolio provides an incoming investor with three well located investment properties each offering the security of a long term management agreement and growth potential in trading performance.  “Coupled with the benign supply outlook and strong ongoing business fundamentals, the sale of the portfolio is likely to attract significant investor interest,” said Mr Mark Durran, Executive Vice President, Jones Lang LaSalle Hotels.

Courtyard by Marriott North Ryde is a purpose built eight level hotel which opened in 2004 in the heart of North Ryde, one of Sydney’s major commercial hubs.  “The Hotel enjoys excellent access to the M2 freeway, Macquarie University, Sydney Olympic Park and the soon to be completed Epping to Chatswood rail link,” said Mr Durran.

This 4.5 star corporate hotel offers 196 guest rooms including 8 loft rooms, together with a full range of facilities including a restaurant and bar, eight conference rooms, boardroom, business centre, a fully equipped gymnasium and onsite car parking for 100 vehicles.  “Its design allows an efficient operation which greatly benefits the Hotel’s bottom line,” said Mr Craig Collins, Managing Director – Investment Sales, Jones Lang LaSalle Hotels.  He added, “Being a corporate hotel, strong occupancies are experienced mid week however the Hotel also attracts weekend demand.”

Courtyard by Marriott Parramatta is a contemporary four star CBD hotel offering 181 guestrooms including 30 executive spa suites.  Catering to both corporate and leisure guests, the Hotel also features a restaurant, seven conference and meeting rooms, 24 hour business centre, an outdoor heated swimming pool and spa, as well as a 220 bay public car park.

“Parramatta is the heart of Western Sydney and is a growing commercial office hub within an enormous residential area,” said Mr Collins.  He added, “The Hotel is also within close proximity to Sydney Olympic Park, Sydney Showground’s, Rosehill Gardens Racecourse, Parramatta City Raceway and the Eastern Creek Raceway.”

Courtyard by Marriott Surfers Paradise is a 31 level “Resort Hotel” and is perfectly positioned above the largest shopping centre in Surfers Paradise.  “The Property boasts a location only one street from Cavill Avenue Mall, a short walk from Australia’s most famous stretch of beach and moments from a plethora of attractions that makes Surfers Paradise a year round corporate and leisure destination,” said Mr Collins.

“This four star Hotel offers 405 spacious guest rooms and suites, all enjoying panoramic views across the Gold Coast, Nerang River, surrounding hinterland and Pacific Ocean,” said Mr Durran. Other guest facilities include a restaurant, two bars, five conference and meeting rooms and a fully equipped gymnasium.  In addition, a unique outdoor recreational area covers the rooftop of the shopping centre and features a swimming pool, spa, sun deck and tennis court.

“Globally, there is still a good level of capital that needs to find a home and with hotels across Australia continuing to trade well and the value-add benefits associated with this portfolio, investor interest will be expected from both national and international investors,” said Mr Collins.  Mr Durran added, “Although economic growth rates are softening compared to the record highs witnessed over the last couple of years, the economy remains in good shape.”

The Courtyard by Marriott hotel portfolio is being offered for sale individually or in one line via an Expressions of Interest campaign closing Midday Friday 1 August 2008.