Ovolo acquires Canberra hotel

Martha Elwell By Martha Elwell
5 weeks ago | Updated 5 weeks ago

Australia: Hong Kong-based hospitality group Ovolo has moved into Canberra

Hong Kong-based hospitality group Ovolo has acquired Canberra's famed Hotel Hotel.

Ovolo Hotels has acquired the leasehold for the 68-room hotel from Canberra developers Molonglo Group.

Hotel Hotel is the third Australian hotel that Ovolo has acquired in the last seven months. The purchase brings the number of hotels under the Ovolo brand to six in Australia following its $40 million acquisition earlier this month of the 102-room Emporium Hotel and the 50-room New Inchcolm Hotel & Suites in Brisbane for $16.5 million in June.

Ovolo Hotels Australia chief operating officer Dave Baswal said, "[The hotel] fits our ethos of design really well. If you look at the Ovolo portfolio, each and every asset is unique in its character, it has its own style, it has its own feel, it has its own story. We can pretty much take Hotel Hotel the way it is, and just give it a bit of an Ovolo service touch.  A lot of work has been done by the existing team, and we would not change it any other way, just embrace what we have inherited and add value to it and add it to another level hopefully."

Molonglo Group's Nectar Efkarpidis said: "We are proud of Hotel Hotel. The goodwill that we have received through this project from collaborators and staff that we have worked with over the last few years has been enormous. Through it, we have made life long friends."

Ovolo will take over on March 1, 2018.

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