Mulpha acquires one-third stake in two Darling Harbour hotels
Mulpha Australia has acquired a one-third interest in the Novotel Sydney on Darling Harbour and ibis Sydney Darling Harbour.
The deal, which settled on 21 September 2026, was completed in partnership with Sun Hung Kai & Co. Limited and Wentworth Capital.
The two adjoining hotels comprise 781 rooms, including 525 rooms at Novotel Sydney on Darling Harbour and 256 rooms at ibis Sydney Darling Harbour.
Both properties will continue to be managed by Accor, Property Markets News reported.
Marcus Hanna, head of hotels, hospitality, and leisure at Mulpha Australia, said the company would work with Sun Hung Kai & Co., Wentworth Capital, and Accor on the hotels following the acquisition.
“The Novotel and ibis are substantial, well-established hotels in one of Sydney’s most important tourism and business precincts,” Hanna said, according to Property Markets News.
The acquisition follows a series of divestments of non-core assets by Mulpha over the past 12 months. According to the report, the transaction forms part of the group’s strategy to redeploy capital into hospitality assets.
Mulpha’s Australian hospitality portfolio includes InterContinental Sydney, InterContinental Hayman Great Barrier Reef, InterContinental Sanctuary Cove Resort, Bimbadgen, The Lane Retreat in the Hunter Valley, and its Perisher properties.
Property Markets News reported that the transaction also forms part of Mulpha’s approach to partnering with other investors on hospitality assets.
Australian Hospitality Directory, 24th September 2026
