Regional Ibis hotel portfolio for sale CBRE Hotels
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Regional Ibis hotel portfolio for sale CBRE Hotels
The Ibis Styles hotels in Tamworth and Cairns have been listed for sale by a private Australian family amid rising investor interest in Australia’s regional and leisure hotel markets. CBRE Hotel’s Wayne Bunz and Hayley Manvell have been appointed to market the properties.
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CBRE HotelsImage of Ibis Styles Cairns. The Ibis Styles hotels in Tamworth and Cairns have been listed for sale by a private Australian family amid rising investor interest in Australia’s regional and leisure hotel markets. CBRE Hotel’s Wayne Bunz and Hayley Manvell have been appointed to market the properties. -
CBRE HotelsImage of Ibis Styles Cairns. -
CBRE HotelsIbis Styles Tamworth.
The Ibis Styles hotels in Tamworth and Cairns have been listed for sale by a private Australian family amid rising investor interest in Australia’s regional and leisure hotel markets. CBRE Hotel’s Wayne Bunz and Hayley Manvell have been appointed to market the properties.
CBRE Hotel’s Wayne Bunz and Hayley Manvell have been appointed to market the properties via an Expression of Interest campaign, with the hotels to be available in-one-line or individually.
Ibis Styles Tamworth. Source: CBRE.
The listing follows the recently completed sale by CBRE Hotels of the 101-room Reef Plaza Hotel Cairns, in a deal which demonstrated investor confidence in the recovery of the Cairns tourism industry.
The Ibis Styles Cairns will provide the next test of the market, with the 75-room hotel located in the heart of the Cairns CBD opposite the aquarium.
Ibis Styles Cairns. Source: CBRE.
The 109-room Ibis Styles Tamworth, in northern NSW, is the other asset up for sale, providing an opportunity to acquire the Southern Hemisphere's longest motel, located on a three-hectare site at the junction of two major NSW highways.
The assets are operated under a franchise agreement with Accor Hotels, however vacant possession is available, opening the door for owner operators or investors to rebrand and reposition the assets.
Mr Bunz noted; “Hotels in regional and leisure locations have certainly been the beneficiary of strong domestic travel, especially in drive-to locations. The Ibis Styles properties have the added benefit of being situated in strong regional towns which have diverse economic bases and are the regional centres for their respective areas in NSW and Queensland.”
Ibis Styles Tamworth. Source: CBRE.
Tamworth also benefits from hosting one of the largest country music festival’s in the world, which attracts 50,000 visitors each year.
Ms Manvell added; “The hotels will be sold well below replacement cost and will be viewed as strong counter cyclical opportunities ahead of a rebound in tourism and regional corporate travel. There is a scarcity of hotel stock on the market currently and this, coupled with historically low interest rates will ensure these assets are highly sought after.”
CBRE Hotels is also poised to launch a campaign to sell another regional hotel, the 140-room Hotel Grand Chancellor, at Palm Cove north of Cairns.
To view the listing for Ibis Styles Cairns click here.
To view the listing for Ibis Styles Tamworth click here.
Ibis Styles Tamworth. Source: CBRE.
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