UAE-Headquartered Ghassan Aboud Group Acquires Rydges Sydney Harbour Hotel

Ghassan Aboud Group's hotel development and management company Crystalbrook Collection has added the Rydges Sydney Harbour Hotel to its portfolio of properties in Australia.

Crystalbrook Collection

The hotel, which occupies an 1,825 sq. m. site and has 176 rooms, was acquired for about AU$100 million (US$68.5 million). "The location is absolutely fantastic and deal is timely for Crystalbrook," said Ghassan Aboud, founder and Chairman of Ghassan Aboud Group. "We will seek to deliver the most deserving design and quality that is commensurate with the property's location and history."

Suresh Vaidhyanathan, Group CEO at Ghassan Aboud Group, added, "Crystalbrook has demonstrable credentials to expand its brand offering as a management company in Australia and international markets."

Ghassan Aboud Group's portfolio in Australia already includes properties in Cairns, Brisbane, Byron Bay, Newcastle, and Sydney's Surry Hills. The group is also engaged in automotive, hospitality, retail, food, media, logistics, healthcare, catering, and digital marketplaces.

Related: Attention To Detail: Ghassan Aboud, Founder And Chairman, Ghassan Aboud Group