Melbourne Place Hotel

Ark Capital Partners and Lead Global are set to launch a new co-branded hotel fund following the successful acquisition of Melbourne Place Hotel.

Ark Capital Partners – a specialist in sourcing, securing, and repositioning quality hotel assets – is behind a number of key hotel projects of late, including the acquisition of 120-room Hyde Perth, which will open later this year; the 146-room Hotel X in Brisbane’s Fortitude Valley; and the 190-room Batman’s Hill on Collins.

“The completion of this deal represents the beginning of an exciting partnership between Ark Capital Partners and Lead Global, which will allow us to further capitalise on opportunities in the hospitality sector,” said Ark Capital Co-Founder and CEO, Rahul Parrab.

“We are thrilled to acquire such a prime asset and are confident that this is just the start of many successful transactions to come.”

The design-led boutique hotel on Russell Street features191 room and suites, a ground floor signature restaurant, basement bar and a rooftop restaurant.

The new-build hotel, designed by Kennedy Nolan, features references to Melbourne’s architectural and cultural identity, with local bricks and pre-cast concrete, alongside deep-red metal accents and circular windows.

“This acquisition is a key step forward in our long-term strategy for growth in the hospitality sector,” said Lead Global CEO, Grace Tsui.

“We are proud to work with Ark Capital Partners on this exciting journey and are eager to explore further opportunities together.”

Following a soft opening in late 2024, a grand launch is planned for late Q1 2025.

“We had many expressions of interest for this unique opportunity, and we believe that Ark Capital and Lead Global will provide the best outcome for the hotel and all stakeholders,” said Merricks Capital Executive Chairman and Chief Investment Officer, Adrian Redlich.

“We are confident that with their expertise, it will reach its full potential and become one of the most vibrant hotels in the city.”