>Pan Pacific buys Hilton Melbourne Airport Hotel

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Pan Pacific Hotels Group Limited said on Thursday that its subsidiary, Success City Pty Limited (SCPL), has entered into a conditional contract to buy the Hilton Melbourne Airport Hotel, Australia for A$108.89 million (US$108.13 million).

The contract for the 276-room hotel was entered with Mulpha Hotel (Melbourne) Pty Limited and Mulpha Hotel Pty Limited.

The property is currently leased to Mulpha Hotel (Melbourne) Pty Limited by the airport operator, Australia Pacific Airports (Melbourne) Pty Ltd (APAM), who is the lessee under a head lease with the Commonwealth of Australia.

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