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IHG sells Holiday Inn Melbourne Airport
Hotel group IHG has sold its leasehold interest in the Holiday Inn Melbourne Airport to Pelligra Group.
Jerome Doraisamy
Source: ihg.com/holidayinn/hotels/us/en/melbourne/melcr/hoteldetail
Firm: Colin Biggers & Paisley (IHG).
Value: Undisclosed.
Area: Hotels, tourism and hospitality.
Key players: The CBP team was led by partner Duane Keighran, who was supported by partner Megan Kavanagh, special counsel Georgia Arya and solicitors Elyse Di Stefano and John Momitsas.
Deal significance: Speaking about the deal, Mr Keighran said it involved “careful consideration” of complex legal issues and that he was “delighted” to assist IHG.
“The tenure of the property was held by way of leasehold interest meaning that we had to liaise with Melbourne Airport Authority. This presented its own unique challenges as the leasehold interest, being Crown land, was subject to its own specific rules,” he said.
“What was interesting about this transaction was that it was multifaceted. We had the sale aspect and the post-sale aspect of IHG managing the hotel after the completion of the sale with a significant refurbishment being undertaken by the purchaser to bring the hotel back up to a really good standard. All parties worked together to achieve the common goal of reinvigorating a fantastically located property. The transaction was assisted greatly by the relationship between IHG and Pelligra, who are developing further hotels together, and our team greatly enjoyed being a part of this transaction for IHG.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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