Record Hotel Deal as Westin Sydney Sells for $445m

Sydney’s Westin Hotel has sold for $445m – or about $1m a room – to two companies controlled by Singapore’s Ng family – Far East Organisation and Sino Group.

It’s a record per room price for a large property and follows two other major Sydney hotel transactions – Hilton ($442m) and Sheraton on the Park ($463m).

The Hilton was sold earlier this month while the Sheraton changed hands last November.

Both were bought by Chinese investors.

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