Singapore-based private investment firm Nadathur Fareast has bought Tourast Corporation’s Constellation Hotels, a hospitality network across Australia and New Zealand, for $50m.
The portfolio includes the Chifley, Australis Hotels and Resorts, and Country Comfort brands.
Touraust Corporation chairman and founder Darryl Courtney-O’Connor said the deal with Nadathur Fareast will allow the company to maintain its Australian operation while optimising growth throughout Asia Pacific.
Nadathur Fareast manages an investment portfolio worth approximately $600m.
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