Opened in July 2010, the award-winning 4.5 star hotel features 46 keys comprising modern and spacious studio, one bedroom and two bedroom serviced apartments. The Hotel also features extensive conference facilities with a dedicated commercial kitchen, a café & bar, swimming pool, gymnasium, substantial onsite car parking as well as two ground floor retail tenancies.
The Property is set in an idyllic position in Fairy Meadow on the northern side of Wollongong, just a short distance from the beach, University of Wollongong’s Innovation Campus, the CBD, sports playing fields and Port Kembla.
Only one hour south of Sydney, Wollongong is the economic centre of the Illawarra region and is home to the major activities of several of Australia’s largest industrial companies, as well as the expanding Port Kembla and University of Wollongong. The city has a current population of approximately 290,000. With its spectacular coastal setting and numerous natural attractions, the Illawarra has historically benefited from strong MICE and leisure markets, along with stable corporate demand.
Throughout its establishment phase, the Hotel has achieved strong occupancy levels and continual growth in average daily rates, demonstrating its excellent guest offering and favourable location. Given the demand in the region for apartment style accommodation and quality conference facilities, combined with a recent contraction in supply, the Hotel is expected to benefit from a prosperous medium term outlook.
The Property is currently operated under a franchise agreement with Choice Hotels, however vacant possession is achievable.