RF CorVal Baxter Rd Hotel Trust
56 Baxter Road, Mascot NSW 2020
|Property||"Moxy Hotel" 56 Baxter Road, Mascot NSW 2020|
|Forecast Hotel Opening Date||Q2 2023|
|Hotel Operator||Marriott International - Moxy Hotels brand|
|Total Development Cost (100%)||$121m|
|Target Equity IRR||12-15%|
Development of upper-midscale lifestyle hotel within Sydney airport precinct.
The RF CorVal Baxter Rd Trust is an unlisted property trust established to develop and own an upper-midscale lifestyle hotel operated by the world’s largest hotel group, Marriott International under its “Moxy” brand.
The hotel will offer 301 guestrooms, the signature Moxy Bar and check in experience, a café and all-day dining venue, conference and meeting rooms, guest laundry and gymnasium. The design of the hotel lends itself to a lean staffing model, operating efficiencies, and therefore, potentially strong investment returns.
Forecast to open in Q2 2023, the Trust intends to own the Property for a period of approximately 5 years from hotel opening, allowing time to progressively ramp up its operations to a more stabilised series of earnings before ultimately disposing of the Property.