The Karim family has expanded its Australian hotel portfolio to five properties after buying The Old Clare Hotel in Chippendale for $61.8m.
Indonesia’s ultra-wealthy Karim family has added a fifth property to its rapidly expanding Australian hotel portfolio after buying The Old Clare Hotel in Chippendale on the Sydney city fringe for $61.8 million.
“As the tourism sector continues to thrive amidst the post pandemic recovery, we are very pleased to be able to find superb hotels across Sydney and Brisbane,” Chayadi Karim said.“Having set in stone our property improvement plans and management strategies, we remain committed to further investment within the Australian hotel sector.
“I am pleased to be handing over the hotel to Invictus, who I know will be the best long-term guardians to continue the legacy of this historic property,” he said.A photo of the foyer of the Old Clare Hotel. “This is a luxury, boutique hotel designed to a high standard that would be hard to replicate,” she said.
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