Mulpha Acquires Interest In Landmark Darling Harbour Hotels

Mulpha Australia has settled the acquisition of a one-third interest in the Novotel Sydney on Darling Harbour and ibis Sydney Darling Harbour, two established and highly prized hospitality assets in one of Australia’s leading tourism and business destinations.

The acquisition settled on 21 September 2026 and was completed alongside Sun Hung Kai & Co. Limited and Wentworth Capital.

Together, the two hotels comprise 781 rooms, including 525 rooms at the Novotel and 256 rooms at the ibis. The adjoining properties occupy a prominent position within Sydney’s Darling Harbour precinct and will continue to be managed by Accor.

The investment represents an important step in Mulpha’s ongoing portfolio strategy, following a series of divestments of non-core assets over the past 12 months. It reflects the Group’s focus on redeploying capital into high-quality opportunities that align with its capabilities and long-term investment objectives.

Mulpha Australia Head of Hotels, Hospitality & Leisure, Marcus Hanna, said the acquisition brought together high-quality assets, an outstanding location and strong, aligned investment partners.

The Novotel and ibis are substantial, well-established hotels in one of Sydney’s most important tourism and business precincts. Their scale, location and long-term potential make them a compelling addition to Mulpha’s hospitality portfolio. Mulpha brings extensive hotel ownership, operational and asset management experience to the partnership. We look forward to working closely with Sun Hung Kai & Co., Wentworth Capital and Accor to build on the hotels’ existing strengths and identify opportunities to enhance their performance and guest experience over time. The acquisition also demonstrates Mulpha’s disciplined approach to capital deployment. We remain focused on high-quality opportunities where our specialist expertise and collaborative investment model can create sustainable, long-term value

Mulpha Australia Head of Hotels, Hospitality & Leisure, Marcus Hanna

The transaction builds on Mulpha’s established Australian hospitality portfolio, which includes InterContinental Sydney, InterContinental Hayman Great Barrier Reef, InterContinental Sanctuary Cove Resort, Bimbadgen and The Lane Retreat in the Hunter Valley, and its Perisher properties.

It also reflects Mulpha’s strategy of partnering with experienced, aligned investors to access significant opportunities while maintaining a disciplined approach to risk and returns.