Momento acquires Royal Albert Hotel for $10M
Momento Hospitality has purchased the Royal Albert Hotel in Surry Hills for $10 million from a group of owners that include former NRL player Bryan Fletcher.
This is Momento’s second inner city hotel acquisition, following its announcement last week of its $11 million acquisition of the Friend in Hand Hotel in Glebe, Sydney.
Fletch had been a partner in The Royal Albert for the last ten years.
“It’s been a great journey with that little pub, and as a consortium we’ve elected to pursue other capital deployment objectives at this juncture,” Mr Fletcher said.
Specialist firm HTL Property’s Sam Handy and Blake Edwards handled the sale.
Notably, the inner-city freehold hotel drew several offers, including from hoteliers, restaurateurs, investors and developers.
Other recent inner city hotel deals are the Dry Dock Hotel selling in Balmain which was acquired by Peninsula Hospitality Group.
The Hotel Hollywood and Bat and Ball Hotel in Surry Hills have also sold.
Handy believes the inner-city market “will enjoy sustained investor interest for some time”.
Fletcher played with the Sydney Roosters and South Sydney Rabbitohs in 180 NRL grade games, winning a premiership with the Roosters in 2002.
He also played 14 State of Origin games for NSW and represented Australia 13 times.
He retired in 2007 when he started his TV career.
Irit jackson, 17th May 2022
