Park Hyatt Melbourne sold for over $200M in biggest hotel deal of 2025
In Australia’s largest hotel sale so far this year, the landmark Park Hyatt Melbourne has changed hands for more than A$200 million, with Thai hospitality player KS Hotels stepping in as the new owner.
The deal sees Hong Kong’s Fu Wah International bowing out of the local hotel scene after owning the luxury property for 13 years. Fu Wah originally picked up the hotel from Singapore’s sovereign wealth fund GIC for around A$135 million back in 2011.
Located at the upscale eastern end of Melbourne’s CBD, near Parliament House, the Park Hyatt is one of the city’s most iconic stays. The 245-room five-star hotel features a pool, several restaurants and well-appointed conference and event spaces that have made it a favourite among business travellers and tourists.
KS Hotels is in expansion mode. The group already has a foothold on the Gold Coast, where it’s teamed up with Marriott to transform the Vibe Hotel in Surfer’s Paradise into the Marriott AC Hotel Gold Coast – expected to open in mid-2026. KS has also been acquiring La Residence properties in Laos and Cambodia as part of its regional push.
The sale price narrowly beats the A$205 million paid for Sydney’s Intercontinental Double Bay earlier this year. It also tops the A$143 million deal struck by Merricks Capital, which developed and sold Melbourne Place Hotel to Accor. That hotel now operates as Hyde Melbourne Place.
JLL Hotels & Hospitality Group brokered the Park Hyatt deal, with Peter Harper, Nick MacFie and Camilla Tamburini leading the transaction. Harper didn’t disclose financial details but noted the strong response from investors.
“[The hotel listing received] an incredible level of interest from both offshore and domestic buyers with over 120 enquiries received and 25 inspections undertaken,” he said. “It represents the largest hotel transaction in Australia this year.”
Accommodation Australia chief executive James Goodwin said the acquisition reflects growing confidence in Melbourne’s hotel market.
“Melbourne has had a tough period for the past couple of years, but we’ve got green shoots coming through in growth in occupancy across the city,” he told The Australian Financial Review.
“This highlights that there is strong confidence in the sector despite some of the challenges that I’ve been seeing.”
Jonathan Jackson, 6th August 2025
