Brisbane hotel market heats up ahead of 2032 Olympics
Geopolitical uncertainty and Brisbane's approaching 2032 Olympic Games are triggering a wave of hotel divestments in Queensland's capital, with at least three major properties coming to market.
Syrian-born billionaire Ghassan Aboud is preparing to list the luxurious Crystalbrook Vincent through Colliers. Situated beneath Brisbane's Howard Street Wharves, the six-level property was originally developed by Melbourne's Deague Group as part of the landmark $100 million Howard Smith Wharves precinct, opening in 2019. Aboud acquired it a year later for between $70 million and $75 million.
The 166-room five-star hotel features more than 500 prints by celebrated Australian artist Vincent Fantauzzo and is expected to change hands for between $90 million and $100 million, with the Crystalbrook management brand retained. Marketing is being handled by Colliers' Karen Wales, Head of Hotels, Transaction Services. The property has a rooftop bar, rooftop pool, the Italian Polpetta restaurant, 24-hour fitness centre, and commanding views of the Brisbane CBD and Story Bridge.
Aboud, whose UAE-based Ghassan Aboud Group holds a billion-dollar Australian portfolio, also owns Crystalbrook properties in Cairns, Byron Bay, Newcastle, and inner Sydney. His Port Douglas marina was listed approximately a year ago.
Separately, a German fund manager is offering a long-term lease over the IHG-managed Voco and Hotel Indigo Brisbane CBD through JLL, with price expectations around $150 million. The dual-branded asset comprises 406 keys across a 3,847-square-metre freehold site and reopened in 2022 following a $62.5 million refurbishment from their prior Mercure and Hotel Indigo configurations.
JLL Hotels & Hospitality's managing director Peter Harper and executive vice president Adam Bury are managing the campaign. The property is close to Queen Street Mall and has strong forward demand. Harper says the past 18 months have seen a notable return of foreign capital — particularly from Southeast Asia — helping push 2025 transaction volumes back above long-term averages.
"We expect demand for the Voco and Hotel Indigo Brisbane City Centre to be generated by known investors, but potentially also first-time hotel investors," Harper told The Australian, adding that domestic capital remained equally active in capitalising on the city's momentum.
JLL has noted Brisbane's comparatively constrained room supply relative to previous Olympic host cities, describing this as positioning existing CBD assets for exceptional growth ahead of 2032.
Jonathan Jackson, 23trd March 2026
