The Hilton Adelaide has transferred hands for the first time in more than 30 years.
Thai family office Amora Hotels & Resorts acquired the 377-room hotel in an “on-market campaign which attracted strong interest from domestic and offshore private and institutional investors,” according to the Sydney office of business advisory CBRE, which brokered the deal.
The seller is 233 Victoria Square Hotel Pty Ltd., which owned only this one property.
The hotel first opened in October 1982 and was last renovated in 2015, according to CoStar.
Amora plans an 40 million Australian dollars ($25.2 million) renovation for the hotel, according to Australian news site The Urban Developer.
CBRE did not list a sales price, but Australian news site Real Estate Source reports the acquisition price is AU$110 million.
The acquisition is Amora’s fourth hotel in Australia, and it has another three hotels in its home base of Thailand.
The company's portfolio, in addition to the Adelaide asset, are all branded Amora. It's Australian hotels are the 415-room Amora Hotel Jamison Sydney, 296-room Amora Brisbane and 111-room Amora Hotel Riverwalk Melbourne. In Thailand, it has the 204-room Amora Tapae Hotel Chiang Mai, 60-room Amora Neoluxe Hotel Bangkok and, one resort, the 265-room Amora Beach Resort Phuket.
Hilton has a lease of the property that expires in July 2026.
At the end of 2024, Amora opened a new corporate headquarters in Sydney, from which it plans further expansion in Australia and Asia-Pacific.