- A Blue Mountains resort has come to market following renovations.
- A property on the Sunshine Coast is leased to an ASX listed company.
- Radisson Group has been active across the Asia Pacific in 2022, with more to come.
2022 was the year of recovery for the Asia Pacific hotel sector, with some US$8.4 billion (A$12 billion) in hotel transactions recorded between Q1 and Q3, according to a JLL report; expectations were that 2022 would close out with well over US$10 billion in hotel transactions.
The sector also has a positive outlook for the year of the rabbit or the cat, with the World Travel & Tourism Council expecting travel revenue to contribute to overall economic growth by 71 per cent.
More transactions are expected shortly, with boutique gems across New South Wales and Queensland coming to market.
Blue Mountains resort hits market following renovation
ARFW Pty Ltd has listed its Leura Gardens Resort in the Blue Mountains some hour and a half west of Sydney’s CBD, and about ten minutes away from the Blue Mountains icons like the Three Sisters.
The four-star resort comprises a mix of 92 rooms, suites, and serviced apartments, all situated on an sprawling 18,793 square metres.
Closed for 14 months post pandemic, the property has undergone a multi-million dollar renovation, described as substantial.
CBRE Hotels’ National Director Wayne Bunz said the property benefited from its proximity to the heritage listed Blue Mountains National Park, which boasts some of Australia’s most scenic and picturesque viewpoints and lookouts.
“The resort’s significant corporate and leisure offering is supported by the region’s booming drive visitor market. This, combined with the property’s significant business and development potential, will provide an investor with substantial operational upside,” Mr Bunz said.
CBRE Hotels’ Director Raymond Tran added, “The resort offers an incoming purchaser multiple income streams across an expansive campus, including short and long-term accommodation, multiple food and beverage outlets and a range of conference and events facilities.”
The Blue Mountains region has significantly benefited from the booming domestic drive tourism market in NSW. From 2014 to 2019 the Blue Mountains recorded a substantial 57.1 per cent increase in domestic overnight visitors, which resulted in a 45 per cent increase in local expenditure.
The region was also recognised last year by Wotif as one of Australia’s top trending holiday destinations, with tourist interest in the region having grown by 155 per cent since 2020.
“The mid-scale Leura Gardens Resort is in a prime position to prosper from domestic tourism interest in the region and the competitive product positioning it offers for the budget conscious traveller, ranging from SME conference groups to family leisure groups. With very few comparable resort offerings within the Blue Mountains market, this asset is primed to capitalise on post pandemic travel trends,” Mr Tran noted.
Endeavour Group leased Sunshine Coast hotel
Located in Alexandra Headland, just a few minutes south of Maroochydore, the Alex Hotel has been listed for sale.
The 934 square metre venue has leases and options in place until 2050, and a current net annual income of $676,000. The property is currently leased to ASX listed Endeavour Group’s Australian Leisure and Hospitality.
CBRE’s Louisa Blennerhassett, Rem Rafter, and Paul Fraser are managing the sale on behalf of a private, interstate-based family vendor.
“Alexandra Headland is one of the Sunshine Coast’s most popular beachside localities. It is a destination known for its pristine beach, as well as the vibrant community that exists around it, with a strong retail, entertainment and dining precinct,” Ms Blennerhassett said.
“The Sunshine Coast is one of Australia’s fastest-growing, most dynamic locations. Growth in the region is expected to continue at an above-average rate for many years to come, driven by the world class coastal location, population growth, and unprecedented investment in a wide range of infrastructure.”
Radisson Hotel rains keys across APAC
The hotel group ramped up operations across last year, with several hotels opening across the Asia Pacific.
In Thailand alone, the group said it signed five hotels under the Radisson Individual and Radisson brands. These include locations in Pattaya, Phuket, Hua Hin, and Bangkok.
Vietnam saw two Radisson properties open: Radisson Hotel Danang and Radisson Resort Phan Thiet, with the Radisson Resort Mui Ne also signed.
Radisson saw its first hotels enter the Sri Lankan market, with three hotels: Radisson Blu in Galle, and two Radisson hotels in Colombo.
The company also opened the Grand Papua Hotel in Papua New Guinea, along with over 80 hotels in China, and a major expansion of the brand in India.
