Mah family swoops on Metro hotel in CBD
The Australian Financial Review10/06/2010
The Mah family, former owners of the Hydro majestic hotel in the Blue Mountains, have bought Sydney’s Metro Hotel on Pitt, for $24.188 million. Transmetro hospitality group, which held a 31 per cent stake, will continue to managing the business.
Travel entrepreneur Ben Caplan had also held a large stake. Agents from CB Richard Ellis and Latitude Hotel Brokers marketed the hotel. Transmetro CEO George Bedwani said the hotel was listed for sale in 2008 but was withdrawn when the global markets began to crash.