Mulpha Australia has acquired a one-third stake in the Novotel Sydney Darling Harbour and the ibis Sydney Darling Harbour, two hotels located in one of Australia’s busiest tourism and business districts. The deal was settled on 21 September 2026.
The acquisition was carried out jointly with Sun Hung Kai & Co. Limited and Wentworth Capital. The two hotels, which total 781 rooms, will continue to be operated by Accor, which retains operational management of both properties.
A deal within a disciplined portfolio strategy
According to a statement issued by Mulpha Australia, the investment forms part of an ongoing portfolio strategy, following a series of non-core asset divestments carried out over the past twelve months. The group says it favours partnerships with “experienced investors to access significant opportunities while maintaining a disciplined approach to risk and returns.”
This selective approach reflects a shift in Mulpha’s capital allocation strategy, as the group has reorganised part of its portfolio before repositioning towards assets it considers strategic in urban markets with strong tourism and business footfall.
Two strategic addresses at the heart of Darling Harbour
Marcus Hanna, Head of Hotels, Hospitality and Leisure at Mulpha Australia, highlighted the appeal of the two properties’ location: “The Novotel and ibis are significant, well-established hotels in one of Sydney’s most important tourism and business precincts. Their scale, location and long-term potential make them a strong addition to Mulpha’s hotel portfolio.”
He also pointed to the complementary expertise brought together in the deal: “Mulpha brings extensive experience in hotel ownership, operations and asset management to this 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 the long term.”
Marcus Hanna also stressed how the acquisition aligns with the group’s approach to capital deployment: “This transaction 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 durable long-term value.”
Building on an already solid presence in Australian hospitality
The deal strengthens an already substantial Australian hotel portfolio for Mulpha. The group’s holdings include the InterContinental Sydney, InterContinental Hayman Great Barrier Reef and InterContinental Sanctuary Cove Resort, as well as the Bimbadgen and The Lane Retreat properties in the Hunter Valley, alongside its Perisher assets.
Accor’s continued operation of the two Darling Harbour hotels is part of a broader trend of managerial restructuring across the French group’s Novotel and ibis properties in Sydney, where Accor’s network remains particularly dense in the midscale and economy segments.
More broadly, the transaction confirms sustained interest from institutional investors and regional funds in well-positioned urban hotel assets in Australia, at a time when the strengthening of Accor’s Australian portfolio continues through further repositioning deals and capital partnerships.
🔗 Also on LTH: Craig Kelmar appointed General Manager of the Pullman, Novotel and ibis Sydney Olympic Park
At a glance by The Hospitality Tribune
Mulpha Australia acquires one-third stake in two Darling Harbour hotels
Deal settled on 21 September 2026, alongside Sun Hung Kai & Co. Limited and Wentworth Capital
Combined portfolio: Novotel Sydney Darling Harbour and ibis Sydney Darling Harbour, 781 rooms
Both properties remain under Accor management
Part of an ongoing portfolio strategy following non-core asset divestments over the past 12 months
Mulpha’s Australian hospitality portfolio also includes InterContinental Sydney, InterContinental Hayman Great Barrier Reef and InterContinental Sanctuary Cove Resort
