TFE will transform the currently Marriott managed property into Vibe Hotel Melbourne Docklands. The hotel has 273 guest rooms and 360m2 of event space.
The rebrand comes soon after the sale of the property to MA Financial Group for $96 million. The hotel opened under the Four Points brand in 2017 and was owned by Singaporean company Hiap Hoe until its recent sale.
“TFE Hotels has established roots in Docklands, having operated the mid-scale Travelodge brand on Aurora Lane since 2010,” said TFE Hotels’ group chief operating officer, Chris Sedgwick.
“Last year, we partnered with Capital Alliance to kickstart the development charge, announcing plans to build a first-of-its-kind mixed-use, $340 million dual-hotel development in Docklands.”
The under-construction dual hotel development will include a 200-room Collection by TFE hotel and a 105-room A by Adina, alongside a 1,000-seat convention centre.
The new Vibe Melbourne Docklands is a 15-minute walk to Marvel Stadium, which has just completed a $250 million upgrade, including new event spaces, with further development slated for the future.
“We’re thrilled to build on our substantial hospitality investment portfolio with this new acquisition,” said MA Financial Group’s managing director, Anthony O’Hea.
“Hotels in Australia have seen a dramatic post-COVID recovery, with hotel revenues in line with, or exceeding, pre-COVID levels despite international short-term visitor arrivals having only recovered to approximately 75 per cent of their volume.
“This combination of resilience, current asset pricing and the opportunity for more growth makes for a compelling investment proposition.”
With the purchase of the soon-to-be Vibe Melbourne Docklands, MA Financial is opening a new wholesale fund for investors targeting high-quality hotel assets.
