Pan Pacific Hotels Group’s subsidiary Success City (SCPL) will acquire Hilton Melbourne Airport Hotel, Australia, from Mulpha Hotel for A$108.89m (US$108.13m).
The 276-room property is currently leased to Mulpha Hotel (Melbourne) by the airport operator, Australia Pacific Airports (APAM).
The hotel was opened in 2001 and is operated by Hilton Hotels of Australia under a hotel management agreement.
Pan Pacific, a subsidiary of UOL Group, is planning to manage the hotel as a Park Royal hotel.
The transaction is expected to be completed by 31 March 2011.
The acquisition is part of the group’s plans to expand its hotel portfolio and hotel management businesses in the Oceania region.