KS Hotels Acquires Park Hyatt Melbourne in Largest 2025 Australian Hotel Deal

KS Hotels & Resorts, a Thai hospitality group, has acquired the prestigious 245-room Park Hyatt Melbourne in what marks the biggest hotel transaction in Australia in 2025 and the largest in Melbourne since 2017. The deal, reportedly valued at over AU$205 million (approximately $129.5 million USD), was brokered by JLL and saw significant interest, with over 120 inquiries and 25 inspections. The hotel, strategically located near Melbourne's Parliament Square and known for its luxury amenities, was sold by Hong Kong-based Fu Wah International, which had owned it since 2014 after purchasing it from Singapore's sovereign wealth fund GIC. This transaction reflects Melbourne's robust hotel market and continued appeal to Asian investors, with KS Hotels being only the third Thai-based group to acquire a major Victorian hotel. Industry experts highlighted the city's ability to absorb new stock and noted the Park Hyatt's status as one of Melbourne's top hotel assets, reinforcing strong demand for trophy hotel properties in the region. KS Hotels’ parent company has prior experience with Hyatt-branded properties, including a Park Hyatt conversion in Cambodia.