The 117 room Ibis Townsville Hotel in the heart of the CBD has been sold to Sydney boutique investment company Centennial Property Group.

The group recently bought the Cairns Campus Student Lodge in Smithfield and has a portfolio that includes properties in Surry Hills, Macquarie Park and McMahon’s Point, Sydney.

The present Ibis management team headed by general manager Steve Wellsteed, who joined the hotel in March last year will remain in place.

Mr Wellsteed joined Accor in 2003 in Port Hedland W.A and has held various operational management roles in the Northern Territory, Melbourne, Canberra and Mount Isa.

He said that under the new owners Ibis Townsville, managed as part of the Accor Hotels group, would continue to provide competitively priced accommodation and conference facilities for the tourist and business market highlighted by service excellence.