Amid the collapse in international tourism, Meriton’s Harry Triguboff has made the “painful” decision to convert several short-term holiday apartment towers into long-term rentals:
In a major blow to the tourism accommodation sector real estate mogul Harry Triguboff has taken the difficult decision to convert up to five proposed serviced apartment towers planned for the eastern seaboard into residential complexes…
The Sydney-based Mr Triguboff, worth around $15.5bn, said the lack of tourists and the dropping accommodation prices had led him to the difficult decision, which will see the removal of thousands of rooms from the nation’s accommodation stocks.
