26/03/2008 - 22:00

In Brief: Pagoda name change

26/03/2008 - 22:00

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COMO’S Pagoda Hotel is to be rebranded Esplanade River Suites, following its acquisition by Marylyn New’s Esplanade Hotels Group. The 101-room hotel encompasses the old Pagoda Ballroom, a landmark along the Kwinana Freeway and a fondly remembered Perth institution from the heyday of ballroom dancing. The purchase price was estimated to have been between $15 million and $20 million. The biggest stakeholder in the site was Westralia Property Management Ltd, whose share of the hotel was held through the ASX-listed Westralia Property Trust, and was thought to be worth between $9 million and $11 million. Ms New also controls the 300-room four-star International Esplanade Hotel Fremantle through West Perth-based Grangefield Pty Ltd, the trustee for the Mags Trust.

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