Ark Capital Companions and Lead International are set to launch a brand new co-branded lodge fund following the profitable acquisition of Melbourne Place Lodge.
Ark Capital Companions – a specialist in sourcing, securing, and repositioning high quality lodge belongings – is behind plenty of key lodge initiatives of late, together with the acquisition of 120-room Hyde Perth, which can open later this 12 months; the 146-room Lodge X in Brisbane’s Fortitude Valley; and the 190-room Batman’s Hill on Collins.
“The completion of this deal represents the start of an thrilling partnership between Ark Capital Companions and Lead International, which can permit us to additional capitalise on alternatives within the hospitality sector,” mentioned Ark Capital Co-Founder and CEO, Rahul Parrab.
“We’re thrilled to accumulate such a first-rate asset and are assured that that is simply the beginning of many profitable transactions to come back.”
The design-led boutique lodge on Russell Road features191 room and suites, a floor flooring signature restaurant, basement bar and a rooftop restaurant.
The brand new-build lodge, designed by Kennedy Nolan, options references to Melbourne’s architectural and cultural id, with native bricks and pre-cast concrete, alongside deep-red metallic accents and round home windows.
“This acquisition is a key step ahead in our long-term technique for progress within the hospitality sector,” mentioned Lead International CEO, Grace Tsui.
“We’re proud to work with Ark Capital Companions on this thrilling journey and are wanting to discover additional alternatives collectively.”
Following a comfortable opening in late 2024, a grand launch is deliberate for late Q1 2025.
“We had many expressions of curiosity for this distinctive alternative, and we imagine that Ark Capital and Lead International will present the very best final result for the lodge and all stakeholders,” mentioned Merricks Capital Govt Chairman and Chief Funding Officer, Adrian Redlich.
“We’re assured that with their experience, it’ll attain its full potential and change into one of the crucial vibrant motels within the metropolis.”