Announcement to the ASX re Sofitel's appointment as manager of Sheraton Brisbane

Announcement to the ASX re Sofitel's appointment as manager of Sheraton Brisbane

09-Dec-2004

Thakral Holdings Group today announced that it has agreed terms to appoint Accor to operate the hotel currently known as the Sheraton Brisbane, as the Sofitel Brisbane

As previously advised, Thakral Holdings has exchanged contracts to acquire the Brisbane Sheraton from Mulpha Australia Limited for a purchase price of $100 million, settlement is expected to take place on 1 February 2005.

The 410 room, 5 star hotel, is a landmark situated in the heart of Brisbane City above Brisbane’s Central Railway Station. The hotel has recently completed a $10 million refurbishment and will complement Thakral’s Gold Coast hotel which is currently undergoing a refurbishment to become Sofitel Gold Coast.

Commenting on the appointment, Thakral’s Managing Director, Mr John Hudson said:

“As advised, we acquired the hotel with the benefit of vacant possession which means we were free to negotiate with potential hotel operators to improve the return from the property. The hotel will be re-branded as Sofitel Brisbane and we expect to both build on the established reputation and position of the hotel while further enhancing what is certainly a Brisbane icon.”

For further information please contact the Managing Director, Mr John Hudson on (02) 9272 8888 or 0417 266 744.

Please provide us with your confirmation of release announcement.

Yours faithfully



Andrew Horne
Group Company Secretary

• Back to ASX Releases