C2 Capital makes first Hotel acquisition – The Rydges Gladstone. This will be the first of many affordable luxury hotels developments under C2 Capital’s Hospitality Fund.
C2 Capital will be undertaking a significant renovation in order to enrich the guest experience.
“We are very pleased with this acquisition and excited with our move into sustainable, affordable luxury hospitality projects. We have great faith in the steady growth in the region and are excited with the opportunity to be part of the local business community.” – Sunil Kumar director of C2 Capital
This deal was negotiated by commercial real estate and hospitality specialist Kurt Braune from KBCG. Mr Braune said, “This purchase was a very strategic acquisition for C2 Capital, as the local economy slowly recovers from the post-mining boom”.
Upgrades to the hotel will start Q1 2019 with C2 Capital currently in negotiation for acquiring a further four hotels in the next 12 months and developing new affordable luxury hotels.
Braune went on to add “The gradual resurgence of coal exports and other new processing projects including the recently announced $308M high tech abattoir by Agri Corp, give us confidence in the region and ultimately the ongoing viability of the hospitality sector.”
For more details surrounding the acquisition of the hotel please review the article published in The Hotel Conversation.
