Abu Dhabi fund buys TAHL assets for $800m | The Australian:
"GLOBAL investment heavyweight Abu Dhabi Investment Authority has provided a boost to the hotel industry with the record-breaking $800 million purchase of Australia's largest hotel owner, Tourism Asset Holdings.
The deal gives the Middle Eastern group, which is a major hotel investor around the world, ownership of a portfolio of 31 properties. It is also one of the largest leased property portfolios of its kind in the Asia Pacific.
The deal comes amid a surge of foreign investment in local hotels with South Korea's Mirae Asset Global Investments and Malaysia's Starhill real estate investment trust snapping up key five-star properties in Sydney, Melbourne and Brisbane, as investors focus on hotels that cater to the business market rather than more risky resorts."
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