Travellers Group expands regional footprint with third acquisition through ResortBrokers

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Nov 19, 2024

Travellers Group expands regional footprint with third acquisition through ResortBrokers

Travellers Group has acquired the leasehold of the 44-key Burnett Riverside Hotel in central Bundaberg in an off-market deal through ResortBrokers’ Nathan Benjamin.

ResortBrokers

Burnett Riverside Hotel sod by ResortBrokers
ResortBrokers

Burnett Riverside Hotel sold by ResortBrokers
ResortBrokers

Craig Smith, Managing Director, Travellers Group

Regional Australian hospitality company Travellers Group has acquired the leasehold of the 44-key Burnett Riverside Hotel in central Bundaberg in an off-market deal through ResortBrokers’ Nathan Benjamin.

Burnett Riverside Hotel is the group’s third regional leasehold acquisition via ResortBrokers following its off-market purchases of the 31-key Emerald Inn in December 2023 and the 24-key Bluegum Dubbo in July 2024.

“The landmark Burnett Riverside Hotel ticked all the boxes for us,” says Craig Smith, Managing Director, Travellers Group. “The best-in-class asset directly aligned with our regional hub strategy. Travellers focuses exclusively on regional hubs, not big cities or city fringe areas.”

“Bundaberg was one of the places we wanted to be, and Burnett Riverside Hotel provided the perfect opening,” says Mr Smith, who launched Travellers Group in 2023 after a long hospitality career that included Area General Manager roles for Minor Hotels and Accor. “We want to do with this hotel what we always strive to do, which is to add value to a regional community.”

“Burnett Riverside Hotel is the only one of its kind in Bundaberg. Conveniently located in the city’s CBD, the hotel offers sweeping views of the Burnett River from its restaurant, bar, event spaces and many of its rooms. It’s no wonder occupancy is at an exceptionally high level. The property has a strong foundation, and we look forward to further building on its offering. We feel it’s a great addition to our growing portfolio.”

“ResortBrokers’ great strength is knowing our buyers’ investment profiles,” says Mr Benjamin.

“I knew this asset would appeal to Travellers Group, which has been looking for an opportunity to break into the diverse Bundaberg accommodation market. It has been a high priority of theirs since they acquired Emerald Inn less than a year ago.”

“The vendor is handing over an exceptional asset and we were happy to achieve for them arguably one of the highest ever per-key rates for a Central Queensland leasehold hotel.”