SOLD – Salter Brothers acquires luxury boutique hotel & estate portfolio in NSW
Salter Brothers is pleased to announce that it has entered into agreements to acquire the Escarpment Group’s collection of luxury boutique hotels and estates:
- Lilianfels Resort & Spa, with 89 rooms
- The Hydro Majestic Hotel, with 84 rooms;
- Echoes Boutique Hotel, with 14 rooms;
- Parklands Country Gardens & Lodges, with 31 rooms; and
- The Convent Hunter Valley, with 19 rooms.
The five boutique hotels and estates are unique to the Blue Mountains and the Hunter Valley regions of New South Wales and provide an immersive journey through Australia’s most visited tourism destinations. The portfolio consists of 237 rooms in irreplaceable locations, all with significant landholdings and signature “hatted” restaurants such as Darley’s Restaurant at Lilianfels Resort & Spa and Circa 1876 at The Convent Hunter Valley.
Paul Salter, Managing Director of Salter Brothers, said “Following the recent acquisitions of the Spicers Retreats and Lodges and the Milton Park Country Hotel and Spa, we are delighted to add to the Salter Brothers’ strategy of acquiring luxury assets in unrepeatable locations. These boutique hotels and estates will complement our growing portfolio for this strategy and the assets present significant opportunities as part of our broader platform.”
“I would like to thank our advisors MinterEllison, Ernst & Young, Napier and Blakely and Ethos Urban for assisting in the transaction” he concluded.
Huong Nguyen and George Saad, founders of the Escarpment Group said “We have been investing and operating in the Blue Mountains since 2004, so it was important for us to find a group that understands regional tourism and appreciates how unique the properties are. We look forward to seeing our legacy continue and to assisting Salter Brothers to achieve their goals at the properties.”
