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.