The Westin Perth has been sold for $200 million to Malaysia’s YTL Corporation, making it one of the biggest hotel sales in the history of Western Australia.
Developer and construction group BGC confirmed that it had sold the property to two subsidiaries within YTL; Starhill Hotel, and Starhill Hotel Operator.
The BGC group also sold Aloft Perth to Singaporean group Hiap Hoe for $100 million in November.
BGC director Sam Buckeridge said the sale freed up more than $300 million in capital for the company.
“We are very proud to have created two of Perth’s best hotel offerings, combining BGC Construction’s commitment to quality with Marriott’s fantastic service delivery,” said Buckeridge.
The 28-storey, 368-room building opened in April 2018, at a build cost of $500 million.
Operations at the hotel remain unchanged, with Marriott International continuing to operate and manage the property as usual.
While the hotel’s sale price was not publicly disclosed, analysts have estimated a price upward of $200 million.
