An undisclosed buyer entered into contract to acquire Ambarvale Hotel from Lantern Hotel Group for AUD 21.2 million.

Colin Parras entered into a contract to acquire Ambarvale Hotel from Lantern Hotel Group (ASX:LTN) for AUD 21.2 million on November 10, 2016. The completion of the sale is expected to occur in mid-December 2016. Daniel Dragicevich and Sam Handy of CBRE Hotels marketed Ambarvale Hotel on behalf of Lantern Hotel Group.