Brookfield Asset Management has acquired Hotel X Brisbane Fortitude Valley, Vignette Collection, a 146-key, luxury hotel in Brisbane’s Fortitude Valley.
The hotel was completed in 2021 and includes a ground floor restaurant, rooftop bar and pool, 1,438 square meters (15,480 square feet) of leased office space, a fitness center and conference space. Fortitude Valley is a lifestyle hub known for its popular dining and retail scene and is in close proximity to the Brisbane CBD.
The acquisition underscores Brookfield’s conviction in Brisbane, Australia’s fastest-growing capital city with a thriving hospitality market. The city is benefitting from strong sector tailwinds ahead of the 2032 Olympic Games, including a lack of new hotel supply, strong economic and population growth, a buoyant tourism industry and robust consumer spending.
“Hospitality is a growing focus for us in Australia and across the Asia Pacific, driven by growing international and domestic
