Ovolo Group’s rapid rise in Australia has continued this week with the purchase of the Taj-owned Blue Sydney hotel in Woolloomooloo.
It takes the company’s tally to three Australian acquisitions in 2014 alone, with parent company Hind Hotels and Properties purchasing Melbourne’s Oaks on Lonsdale Serviced Apartments in March and Hotel 1888 in Sydney during May.
Following the scheduled handover date on 31 October 2014, the Blue Sydney will undergo a gradual renovation with the implementation of Ovolo’s unique style and brand standards and will be rebranded as an Ovolo hotel after the upgrade is complete.
To further strengthen the Ovolo brand in the Australian hotel market, Hotel 1888 and Oaks on Lonsdale will also be rebranded once a suitable timeframe for renovation has been set.
“2014 marks a significant milestone for Ovolo Hotels by acquiring three hotels outside Hong Kong… the purchase is part of an aggressive brand expansion strategy across Australia,” said Ovolo Hotels Founder and CEO, Girish Jhunjhnuwala.
“They presented a unique opportunity for us to reinforce our presence in the Australian hotel market.”
Founded in 2002 and based in Hong Kong, Ovolo Group, also has a boutique property in Melbourne, which made its debut at 19 Little Bourke Street in September 2012.
“Sydney and Melbourne continue to be the top destinations for hotel investors and for foreign capital into Australia,” Jhunjhnuwala said.
“Through the Group’s expansion plan in the country and later in the Asia-Pacific region, we hope to inspire design conscious living offering high-tech touches that have become a hallmark of the brand.
“Our aim is to provide truly effortless living and experience our unique personalized service with all the extras included,” he said.
The Group’s latest project in Hong Kong, Ovolo Southside, has just opened in July as the first warehouse-to-hotel conversion in Hong Kong.