HOTEL, TOURISM & LEISURE

Daisho settles W Hotel buy

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JAPANESE group Daisho has completed its acquisition of the five star W Hotel within Cbus Property’s $1.25 billion mixed use Collins Arch development in the Melbourne CBD is now complete.

Also nicknamed the Pantscraper for its unique appearance that includes a skybridge across its upper levels, Collins Arch also includes 184 apartments and 49,000 sqm of office space.

Known as W Melbourne, the luxury hotel at 408 Flinders Ln comprises 294 rooms across 15 levels and is scheduled to open in December.

Daisho initially entered into the deal, negotiated by Savills, in 2016.

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