Brookfield Asset Management has acquired Hotel X Brisbane, Fortitude Valley, Binet Collection, a 146-key luxury hotel in Brisbane’s Fortitude Valley.
The hotel was completed in 2021 and features a ground-floor restaurant, rooftop bar and pool, 1,438 square meters (15,480 square feet) of leasable office space, a fitness center, and meeting space. Fortitude Valley is a lifestyle hub known for its popular dining and retail scene, located just outside Brisbane’s CBD.
The acquisition underscores Brookfield’s belief in Brisbane, Australia’s fastest growing capital city with a thriving hospitality market. The city is benefiting from strong tailwinds in the lead-up to the 2032 Olympics, including a lack of new hotel supply, strong economic and population growth, a booming tourism industry and strong consumer spending.
“With growth both domestically and internationally, there is an increased focus on hospitality in Australia and across the Asia-Pacific region.
