In a move to expand its Australian portfolio, Ovolo Hotels is has acquired the award-winning Hotel Hotel from boutique property developer and creative production house, Molonglo Group.
The luxury hotel, which caused a stir on the local hospitality scene when it opened in 2013 thanks to its eclectic design and eco-friendly architecture, will now be owned and operated by Ovolo Hotels. A change in name and management will take effect from March 01, 2018.
Ovolo Hotels CEO Girish Jhunjhnuwala, said: “Ovolo Hotels has been well received in Australia and we are proud to bring our signature concept to the Australian capital. We believe this venture is the perfect alignment and are delighted to be associated with this property.”
The private sale between Molonglo Group and Ovolo Hotels includes the business, operations and the staff that work and care for the hotel and its celebrated restaurant, Monster kitchen and bar. All current employees at the hotel and restaurant will be retained.
As owners of Canberra’s NewActon Precinct, Molonglo Group will continue to activate the precinct through its cultural and artistic programme of events.
Commenting on the sale, Molonglo Group director, Nectar Efkarpidis, said: “This move will allow us to focus on new projects ahead both in Canberra and beyond. Hotel Hotel will continue without its physical embodiment in the form of our creative projects, through film and publishing, exploring ideas around the purpose of place and how we fit into it,” said Nectar Efkarpidis.
Ovolo Hotels now operates in Hong Kong, Sydney, Melbourne, Brisbane and Canberra, signalling rapid expansion for the company with three new hotels joining its portfolio in the last six months.