In December 2016, a new record was set with the purchase of the Tennyson Hotel in Sydney by Justin Hemmes for $37.05 million – the highest amount paid at auction for a hotel.

It capped off a stellar year in terms of hotel sale transactions in Australia and shows this sector of real estate is more than holding its own in an industry that can be dogged by uncertainty.

Leon Alaban, an investment sales senior executive from Ray White Hotels, understands well why this facet of the sales industry continues to thrive.

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