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Langham Acquires Observatory Hotel SydneyJune 19, 2012
Big news from Australia: Langham Hospitality Group has secured its first flag in Sydney with the acquisition of The Observatory Hotel, Sydney from Orient-Express Hotels. The property is scheduled to become part of the Langham group on August 8.
“Strategically, this purchase signals the group’s plans for long-term expansion in the Pacific region,” said Brett Butcher, Chief Executive Officer of Langham Hospitality Group.
"It is a key objective of the Company's previously stated long term strategy to optimize its global portfolio for the purpose of reinvesting capital and improving its balance sheet. We are pleased to have made such positive progress in this strategy over the first two quarters of 2012," commented Philip Mengel, interim CEO of Orient-Express Hotels Ltd.
Located near Sydney’s Rocks district and the Central Business District, the hotel has a Day Spa, the Globe Bar (where we hear High Tea is popular), and the Galileo Restaurant. The hotel also close to the Sydney Harbour Bridge and Sydney Opera House, and many of the city's shops, museums, galleries and restaurants.