Luxury hotel which hosted Princess Diana in the 1990s and was the site of INXS singer Michael Hutchence's death sells for $180million
- The Intercontinental Hotel in Double Bay, in Sydney's east, has sold for $180M
- The site, which was the Ritz Carlton in the 1990s, was popular with celebrities
- Princess Diana stayed in 1996, before Michael Hutchence died there in 1996
- The hotel was reportedly bought by Melbourne property developer Fridcorp
An eastern Sydney hotel which has attracted a series of high-profile guests over the past thirty years has sold for $180million.
The Intercontinental Hotel Double Bay, which was known as the Ritz Carlton in the 1990s, hosted Princess Diana in 1996 before INXS frontman Michael Hutchence was found dead in room 524 the following year.
Throughout the same decade, the popular guest house entertained celebrities like Madonna, Sir Elton John and Bill Clinton, and was the site where former Australian Prime Minister Bob Hawke married his longtime lover Blanche d'Alpuget in 1995.
![The Intercontinental Hotel Double Bay (pictured) has sold for $180million to a Melbourne apartment developer](https://i.dailymail.co.uk/1s/2021/05/10/04/42780984-9560605-image-a-26_1620617091419.jpg)
The Intercontinental Hotel Double Bay (pictured) has sold for $180million to a Melbourne apartment developer
![The luxury guest house hosted Princess Diana in 1996 before INXS frontman Michael Hutchence was found dead in room 524 the following year](https://i.dailymail.co.uk/1s/2021/05/10/04/42781898-9560605-image-a-31_1620617237482.jpg)
Princess Diana stayed at the hotel (pictured) during a trip to Australia in 1996 when the guest house was known as the Ritz Carlton
The prominent building was reportedly bought by Melbourne apartment developer Fridcorp on Friday, according to Real Commercial.
Several other well-known Sydney developers were reportedly interested in snatching up the plot, which sources say, given the price, must be being transformed into a development.
The iconic hotel was previously owned by Chinese private equity group Shanghai United who bought it in 2019 for $140million.
Steven Chen, the head of real estate firm The Agency, organised the sale of the 3670msq property on their behalf.
The landmark has tripled in price since it was bought for $60million as a vacant property in 2013 by Singapore's Royal Hotel group, who revamped the site, adding a pool and rooftop bar.
The Royal Hotel Group spent millions of dollars refurbishing the dilapidated property, which had sat unused for six years prior, before selling it to Shanhai United eight years later.
The hotel opened as the Ritz Carlton in 1991 before it was renamed the Sir Stamford Double Bay in 2001, which ran until 2009.
Five years later, the accommodation provider became the Intercontinental Sydney Double Bay.
![INXS frontman Michael Hutchence (pictured) was found dead in room 524 of the Ritz Carlton in 1997](https://i.dailymail.co.uk/1s/2021/05/10/04/42781008-9560605-INXS_frontman_Michael_Hutchence_pictured_was_found_dead_in_room_-a-26_1620619014425.jpg)
INXS frontman Michael Hutchence (pictured) was found dead in room 524 of the Ritz Carlton in 1997
Most watched News videos
- Ukrainian sniper fires at two Russian soldiers with grenade launchers
- Chancellor Rachel Reeves 'under no illusions' of GDP challenge
- Moscow woman reports live: 'Where are we supposed to run to?'
- Tory MP Robert Jenrick dodges Tory leadership 'dirty tricks' query
- Princess Sofia shows baby bump at Parliament State Opening
- Hairbrush and women's clothes found in tunnel where hostages died
- Moment 'drunk' Brit and his wife are hauled off Ryanair flight
- Moment of 'Ukrainian kamikaze drone attack' on Moscow building
- MPs in Commons react to plan to means test winter fuel payments
- Man who turned house into cannabis farm caught in police raid
- 'I'm on a bench tonight': Former convict prefers prison over freedom
- Audi fails to stop after hitting a pensioner in Keighley, Yorkshire