Two neighbouring MR opportunities in a prime location within a burgeoning city

ResortBrokers is offering the Management Rights of two prestigious and award-winning apartment hotels with a combined total of 213 rooms.

The hotels cater to a corporate market and are supported by leisure tourism, offering stunning city skyline, river and mountain views. Both hotels have experienced steady growth in gross revenue, occupancy, room nights, ADR, and REVPAR due to the current owners' solid repeat customer base.

The hotels have NBN fibre to the premises, secure basement undercover parking, and a long-established FF&E plan, making them high-quality properties in a prime location in a growing city.

The business is underpinned by long-term Caretaking and Letting Agreements, providing security of tenure to the incoming operator. Additionally, both hotels are run by a full complement of experienced staff, including 24-hour reception.

The Management Rights of these two highly sought-after apartment hotels, showing a combined net profit of circa $2 million, are on the market for $12 million, offering a ready-to-operate investment opportunity for prospective buyers.

The business includes two manager's units, both of which are managed in the on-site letting pool, generating circa $60k in additional annual income (not included in the sales P&L)