SAVILLS has promoted two industry stalwarts Tony Bargwanna and Leon Alaban to the role of national director – hotels.
Bargwanna is recognised as one of Australia’s most senior hotel industry specialists with almost 25 years’ experience, transacting over $2 billion worth of assets.
Alaban brings over a decade of investment sales experience and has successfully negotiated in excess of $500 million worth of metropolitan and regional hotel and motel sales.
Savills’ CEO Paul Craig said both have set the benchmark with superior knowledge and insight into the national hotel and accommodation sector.
“This is a strategic appointment from within, at a time when the hotels and pubs sector is being watched by the entire world. Tony and Leon’s combined knowledge, experience and track record are unsurpassed. Their scope to reach the far corners of the country, alongside multi-billion dollar transactions is what makes this team unstoppable,” he added.
Bargwanna said: “It is an honour to take on a more expansive, national approach to this important industry sector, with investor interest still strong, despite the current economic landscape.”
Alaban said Savills is going from strength to strength despite a tricky climate.
“We have just been retained to offer the freehold of the Mercure Hotel, Southport Qld for sale via an offers to purchase process.
“The 4.5 star Mercure branded hotel will include 230 keys, a 110 seat restaurant and 30 seat bar, additional rooftop bar & function areas and rooftop guest amenities. Completion is expected June 2022 and we have already received interest from a number of local and national investors who are keeping a close eye on new opportunities in the market” he said.
Craig is bullish towards the hotels sector over the medium to long term and supports the Savills business to expand in this direction.
“The industry has always remained resilient in the face of adversity and will therefore continue to be an attractive asset class for savvy investors,” he said.
