Oxley sells Mercure and Novotel Hotels for $950m

Submitted By:  Arianna Danganan Case Study:  No The hotels along Stevens Road house a combined 772 rooms. Oxley Gem which is a subsidiary of property developer Oxley Holdings has accepted a letter of intent (LOI) from an unnamed party to acquire its Mercure and Novotel Hotels along Stevens Road for $950m, an announcement revealed. The Mercure and Novotel Hotels which house 254 and 518 rooms respectively, were acquired by Oxley in March 2013 and occupy a land area of 18,477 sqm. read more