Parramatta's landmark Rose & Crown Hotel, is to be managed by the Marlow Hotel Group following its sale to a new entrant to the Sydney hotel sector.
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CBRE Hotels director Daniel Dragicevich negotiated the sale on behalf of private investor partnership TWL Hotels and said the campaign had attracted numerous bids and buyer interest from around the country.
"The purchaser is a new entrant to the hotel sector which underlines the attractiveness of the asset class, with new capital entering the market always a key indicator of the strength of the investment market," he said.
The Rose & Crown is on Victoria Road in the heart of the rapidly developing northern precinct of the Parramatta CBD.
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