Blue Mountains. Hydro Majestic sold for $10.5m

The Mah family, which bought the 84-room Hydro Majestic, at Medlow Bath, suffered a $15 million loss after selling the heritage-listed property for $10.5 million in the mid-1960s. The Malaysian family bought the hotel in the mid-1960s for $10 million and spent $15 million refurbishing it. A local syndicate is the new owner.