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Sell or trade up opportunities in the North

Posted by Kellie Williams on 17 August 2018
Sell or trade up opportunities in the North
Far North Queensland Accomodation propety owners are taking advantage of strong market conditions to sell or trade up, according to industry experts.

The Cairns office of Resort Brokers Australia has settled eighteen Far North Queensland management rights and motel sales in the past year, said national sales manager Trudy Crooks.

"Robust tourism growth is fuelling opportunities across the region, resulting in high levels of activity and strong demand for accommodation operations," she said.
"Our local Cairns office has transacted more than $22.5 million worth of property in 2017-2018."

In response, business consultant and broker Kirsten Lowis has joined local agent Chenoa Daniel in representing the tropical north.
Ms Lowis has relocated to Cairns and will represent Resort Brokers in handling motel, management rights and caravan park sales.  As a qualified business valuer and experienced broker who previously established and recently sold a Townsville-based brokerage, she has extensive experience to offer buyers and sellers within the industry.

The latest Dransfield Hotel Futures 2018 industry report showed that while occupancy rates increased 2.3 pc in FY2017, room rates had risen by 10 per cent to $156.65 creating a much stronger placement.
"Even more impressive is that revenue per available room (RevPAR) was up 13.4 per cent, leading the country in year-on-year growth and outperforming already robust prior expectations," Ms Lowis said.

"This has produced excellent trading figures on which to sell accommodation businesses, while the outlook for continued growth points to good upside for incoming investors.
"Preliminary data for this financial year indicates robust rate-driven growth has continued on the back of improving occupancy levels,"

Resort Brokers Australia's recent sales have ranged from Cooktown's historic 'Top Pub' the 1874 Cooktown Hotel, to major apartment resorts and motels from Port Douglas to Cairns.
Among the largest have been the management rights at Bay Villas Resort, Port Douglas, Coral Sands Beachfront Resort and Blue Lagoon Resort at Trinity Beach, and the Reef Palms Motel Apartments leasehold in Cairns.

"Our dedicated local industry professionals will be working together to serve the needs of accommodation business owners and investors across Far North Queensland as we expect demand to drive further opportunity and growth," Ms Crooks said.

Originally published via: Resort Brokers Australia
Kellie WilliamsAuthor:Kellie Williams
About: Kellie studied Commercial Art over 20 years ago at James Cook University and has been working in the Printing and Media industries ever since. She has worked for screenprinters, printing companies and newspapers in North Queensland and now runs her own business, Jasper Design, which has Qld and interstate clients.
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