Salter Brothers elevates hotel portfolio with $1BN luxury rebrand
Salter Brothers is reshaping the luxury hospitality landscape in Australia, announcing a sweeping rebrand of its hotel assets in partnership with IHG Hotels & Resorts. The Melbourne-based investment manager will reposition six existing properties under the upmarket InterContinental and Regent banners as part of a broader A$1 billion-plus investment strategy aimed at capturing growth in the premium travel segment.
The rebrand includes the transformation of Crowne Plaza Sydney Coogee Beach into InterContinental Sydney Coogee Beach, and the repositioning of Crowne Plaza Melbourne into InterContinental Melbourne. InterContinental Melbourne the Rialto will undergo a major redevelopment to become Regent Melbourne, with expanded offerings such as restaurants, bars, spa facilities, and conference spaces, establishing a landmark luxury precinct in the city’s central business district.
“This new agreement represents over $1 billion investment in the luxury and lifestyle segment and highlights our conviction in providing distinctive lifestyle experiences for travellers globally, with an emphasis on timeless style, culinary mastery and wellness facilities for guests,” said Salter Brothers managing director Paul Salter.
Also announced is the return of the prestigious Regent Hotels & Resorts brand to Australia after nearly three decades, alongside the planned development of Hotel Indigo Canberra and the expansion of the voco Gold Coast, further diversifying Salter Brothers’ lifestyle offering.
The rebrand forms a key pillar of Salter’s strategy to launch a hospitality real estate investment trust (REIT), targeting A$2.5 billion in assets. “We are still continuing to pursue an IPO, it’s a hospitality REIT. It’s 18 months away, it’s still a part of the larger strategy,” Salter said.
Despite short-term pressure on hotel rates in Melbourne, Salter remains confident in long-term demand driven by international arrivals and the city’s status as Australia’s events capital. “That new supply has been delivered over the next 12 months. The Melbourne market has been resilient, it’s the sporting capital of Australia and a great events market,” he said.
IHG’s managing director for Australasia Pacific, Matt Tripolone, reinforced the strategic alignment, noting the properties are located in “Premium A Grade” destinations. “In our view, these markets are significantly mature and now lend themselves to more premium brands,” he said, adding that the partnership provides a platform to unlock long-term value through brand elevation and redevelopment.
Crowne Plaza Canberra will be redeveloped into a mixed-use precinct featuring InterContinental and Hotel Indigo properties, catering to Canberra’s growing appetite for luxury and lifestyle hospitality offerings. InterContinental Sydney Coogee Beach is set to reopen in late 2025.
IHG currently manages 77 hotels across Australasia, spanning nine global brands including Six Senses, InterContinental, Hotel Indigo, voco, and Crowne Plaza.
Jonathan Jackson, 22nd May 2025
