The move represents the first Vibe-branded hotel to enter the Docklands precinct, although TFE Hotels already has a footprint in the region on the edge of Melbourne’s CBD, having operated the Travelodge there since 2010.
The company will operate Vibe Melbourne Docklands and Storehouse Docklands restaurant with new owners MA Financial Group from 8 April, 2024.
“TFE Hotels has established roots in Docklands, having operated the mid-scale Travelodge brand on Aurora Lane since 2010,” says TFE Hotels’ group chief operating officer, Chris Sedgwick.
“Last year, we partnered with Capital Alliance to kickstart the development charge, announcing plans to build a first-of-its-kind mixed-use, $340 million dual-hotel development in Docklands.”
Sedgwick says Vibe Melbourne Docklands will feature a dedicated conference space, leisure facilities – including a rooftop pool – and floor-to-ceiling windows with views of Yarra River, Docklands waterfront and Melbourne CBD.
The site is a short stroll from the recently redeveloped Marvel Stadium and other new ventures that are transforming the Docklands precinct.
“These exciting developments – together with the precinct’s tourism attractions, art trail, winter fireworks extravaganza, and strong event calendar, including Firelight Festival and the return of Melbourne Boat Show – will help reinvigorate the precinct,” says Sedgwick.
“TFE Hotels will be well placed to ensure visitors have world-class accommodation and dining experiences when they stay.”
The establishment of Vibe Melbourne Docklands marries up with MA Financial Group’s launch of the MA Accommodation Hotel Fund, an open-ended fund for wholesale investors targeting high-quality assets.
“We’re thrilled to build on our substantial hospitality investment portfolio with this new acquisition,” says MA Financial Group’s managing director, Anthony O’Hea.
“Hotels in Australia have seen a dramatic post-COVID-19 recovery, with hotel revenues in line with, or exceeding, pre-COVID-19 levels despite international short-term visitor arrivals having only recovered to approximately 75 per cent of their volume.
“This combination of resilience, current asset pricing and the opportunity for more growth makes for a compelling investment proposition.”
