The Australian Rugby League Commission has bought its second hotel in as many years as part of efforts to future-proof the code with another revenue stream.
The Australian Rugby League Commission has snapped up the Quest Woolooware Bay Hotel, its second accommodation acquisition, located adjacent to the Cronulla Sharks’ home ground in Sydney’s south.
The Woolooware Bay Hotel, owned by property developer Novm, was listed for sale in May. It is part of the $1 billion Woolooware Bay Town Centre mixed use development. Its sale to the ARL Commission was brokered by CBRE’s Michael Simpson and Vasso Zographou. Located in the centre of Sydney’s Sutherland Shire, the serviced apartment hotel is due to open in late October and is leased to Quest Hotels. It can house up to 71 rooms as well as conference facilities, a business lounge and a gym. Quest Hotels is a member of The Ascott Limited chain of hotels, the largest serviced apartment network in the world.