Barooga Hotel, Barooga NSW sold by Manenti Quinlan & Associates
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Barooga Hotel, Barooga NSW sold by Manenti Quinlan & Associates
Specialist commercial real estate brokers Manenti Quinlan and Associates, in conjunction with Doug May from Albury, announce the sale of the Barooga Hotel in Barooga.
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Manenti Quinlan & AssociatesManenti Quinlan & Associates Announce Barooga Hotel Sale.
Specialist commercial real estate brokers Manenti Quinlan and Associates, in conjunction with Doug May from Albury, announce the sale of the Barooga Hotel in Barooga.
The sole hotel in the popular holiday resort town and rural service centre, it represents a vital component of the rural town’s economy. After its former owners upgraded the hotel, adding a seasonal alfresco bar, a child-friendly outdoor space, and more amenities, the vendors engaged the brokers with broad experience in the hospitality industry to ensure that the award-winning hotel could continue on its upward path.
Source: Manenti Quinlan and Associates.
Only a 2.5-hour drive north from Melbourne, Barooga rests on the picturesque northern banks of the Murray River. Close to Thompson’s Beach, Australia’s largest inland beach, as well as the Barooga Golf Course, the town is a magnet for tourists looking for a laid-back holiday experience. The hotel also serves as a popular gathering place for locals for dining, as well as special events, such as corporate meetings and weddings. Its quality dining experience, as well as its customer service, has earned the hotel the number-one spot on Tripadvisor.
Source: Manenti Quinlan and Associates.
Its welcoming location, combined with its reputation for sterling service over the previous owners’ five years of ownership, made the hotel an attractive investment for its new owners. With robust financials that net the hotel, on average, weekly revenue over $46,000, it was an attractive offering in the lean marketplace. Manenti Quinlan director and licensee Leonard Bongiovanni stated, ‘With the limited stock currently available in the marketplace, the sale demonstrates the appetite of purchasers to acquire quality hotels in regional areas’.
In addition to the Bistro – the hotel’s dining establishment – and its popular alfresco amenities, the hotel features a bar, pizzas on Friday and Saturday evenings, and a gaming lounge with ten devices, divided between smoking and non-smoking areas. Its timeless façade and corner setting make the two-storey hotel a central feature in the charming town. With an extensive tourist trade and a loyal local following, it is an investment that should continue to bring value to its community.
To view the listing and for more information click here.
Source: Manenti Quinlan and Associates.
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