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Chinese investor picks up discounted Sydney Radisson
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A Chinese investor has bought the Radisson Hotel and Suites at Sydney’s Darling Harbour for a discounted $38 million in the first major accommodation deal of the year.
While build-to-rent groups were among those that showed interest in the 100-room, four-star hotel, it is understood the new owner identified by industry sources only as “Mr Yu” (and with hotel interests in China) intends to keep operating it as a hotel.
Offshore investors have proved themselves avid counter-cyclical hotel buyers since the pandemic.
The Radisson Sydney temporarily closed during the pandemic. 
In October, Malaysia’s Mah family bought Sydney’s Capitol Square Hotel for $26 million. In September, Syrian billionaire Ghassan Aboud’s Crystalbrook Collection paid $70million-$75 million for The Fantauzzo Brisbane Art Series Hotel. Thailand’s Savetsomphob family bought the new Vibe Hotel Melbourne from developer C ....

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