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The Karim family, who own palm oil giant Musim Mas, purchased the boutique Harbour Rocks Hotel from Mr Magid to add to a hotel they own in Singapore.

The sale of arguably’s Sydney’s best known business hotel sets a new benchmark for a single accommodation asset.

Robert Magid has timed his exit from two hotels in Melbourne and Sydney as expectations build for a rebound in the hospitality sector, with travel resuming and the omicron wave passing.

Rydges Sydney Airport hotel cleared for take-off We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement The Rydges Sydney Airport hotel is for sale with a price tag of up to $270 million as the owners test the rising demand for key hotels in the market. The four-star hotel has been used as quarantine premises during the pandemic and is now a base for airline crews. It was built by the owners, private developer Denwol in April 2013 for a reported $68 million. The Rydges Sydney Airport Hotel has been listed for sale with a price tag ...

Greenland Offloads Luxury Sydney Hotel Hotel developer, fund manager and operator Pro-invest Group has acquired the five-star Primus Hotel in central Sydney for $130 million. The 172-room hotel located at 339-341 Pitt Street, adjacent to Greenland Australia’s 66-storey apartment tower, the tallest in Sydney CBD. The Woods-Bagot designed hotel, which opened in 2015, represents an architectural revival of the 1930s inter-war period. It has been restored with its original features such as the grand eight-metre high scagliola columns and the lobby’s panelled skylight. Greenland listed the hot...