Crystalbrook Collection is ramping up its luxury east coast hotel portfolio with the acquisition of Brisbane property, The Fantauzzo, for $75 million.
Situated beneath Brisbane’s iconic Story Bridge overlooking the Howard Smith Wharves, the 166 rooms and suites hotel opened in March 2019 under Accor’s boutique Art Series Hotel collection.
The purchase from the Deague Group marks Crystalbrook’s entry into the vibrant Brisbane market and adds to its operations in Sydney, Byron Bay, Cairns, Newcastle and Port Douglas.
The group’s personality-led hotel portfolio includes Little Albion in Sydney; Riley, Bailey and Flynn in Cairns; Kingsley in Newcastle; and its most recent addition, Byron at Byron in Byron Bay. Crystalbrook also owns and operates Crystalbrook Superyacht Marina in Port Douglas.
The Group’s personality-led hotel portfolio includes Little Albion in Sydney; Riley, Bailey and Flynn in Cairns, Kingsley in Newcastle and its most recent addition, Byron at Byron in Byron Bay. Crystalbrook also owns and operates Crystalbrook Superyacht Marina in Port Douglas.
Crystalbrook says it plans to continue its expansion across Australia and is committed to celebrating the local spirit at each of its properties along with an eco-progressive approach to hospitality, which the group terms Responsible Luxury.
Speaking on the pending acquisition, Ghassan Aboud, Owner of Crystalbrook Collection, said: “Australia’s east coast is unlike anything else in the world, and as a company, we are pleased to be able to invest in and support the Australian tourism industry. Brisbane was the next logical step for us.”
Interim CEO and Group Director, Hotels, Geoff York said: “The Fantauzzo fits seamlessly with Crystalbrook Collection. The hotel is unique, full of personality and we love the location in the cultural hub of Howard Smith Wharves.”
Crystalbrook entered the Australian market in 2017 with the purchase of Crystalbrook Station, an 85,000-acre cattle farm three hours west of Cairns. The working farm now supplies responsibly farmed beef to Crystalbrook’s hotel properties.
The official handover of The Fantauzzo will occur in the first half of 2021. Upon handover, the hotel will trade under Crystalbrook Collection with the official new name to be announced in the coming months. Until the acquisition is complete, the hotel will continue normal trading under the management of Art Series Hotels.
More details on the Crystalbrook Collection here.
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