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Rydges Esplanade sold for $65m
Colin Biggers & Paisley has advised on the sale of Cairns' Rydges Esplanade hotel, with the deal totaling $65 million.
Emma Musgrave
Firm: Colin Biggers & Paisley (undisclosed purchaser)
Value: $65 million
Area: M&A
Key players: The Colin Biggers & Paisley team was led by partner and head of hotels, tourism and hospitality Duane Keighran, with assistance from property partners Matthew Castley and Brendan Maier, special counsel Alan McKernan, senior associate Morgen Kerry, partner Ben Caldwell for planning and partner Jon Meadmore in the corporate and commercial practice.
Deal significance: The four-star, 242-room Rydges Esplanade hotel is located on Abbott Street and is being sold by Malaysian conglomerate Mulpha.
"The deal had a number of complex layers to work through and our multidisciplined hotels, tourism and hospitality practice worked with our wider team to provide our client with an outstanding result," said lead partner Mr Keighran.
"It is an excellent example of the type of deals that our hotels, tourism and hospitality team is proud to be at the coalface of with other leading market experts in the hotel industry, and it builds on a number of similar deals we have assisted our clients in recently."
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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