Stamford Land to divest six hotels in Australia and NZ

Stamford Land has appointed brokers for the sale of Stamford Grand Adelaide, among other hotels.
Stamford Land has appointed brokers for the sale of Stamford Grand Adelaide, among other hotels.PHOTO: STAMFORD GRAND ADELAIDE/FACEBOOK

SINGAPORE - Mainboard-listed Stamford Land has put up for sale six of its hotels in Australia and New Zealand, less than three months after announcing its intention to divest some of its assets and move to an "asset-light" strategy.

The Straits Times understands from Australian property reports that the group has appointed brokers for the sale of Stamford Grand Adelaide, Stamford Plaza Adelaide, Stamford Plaza Melbourne, Stamford Plaza Sydney Airport, Sir Stamford Circular Quay and Stamford Plaza Auckland.

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