PHOTO: The NRL has bought a third hotel. NEWS.COM.AU
The NRL has invested approximately $20 million in acquiring a new hotel situated in a popular tourist destination, marking another step in its ambitious real estate acquisition strategy.
The Australian Rugby League Commission, the governing body of rugby league in Australia and responsible for managing the NRL, has finalized the purchase of the 81-room Mercure Kawana Waters located on Queensland’s Sunshine Coast.
The sale, valued in the “early $20 millions,” was facilitated by Gareth Closter of JLL Hotels and Hospitality Group.
With this acquisition, the NRL proudly assumes ownership of the Mercure Sunshine Bay Kawana Waters, aligning with its broader objective of building a $250 million asset portfolio. This purchase follows the NRL’s previous acquisitions, including the $20 million Quest Hotel near the Cronulla Sharks’ home ground in Woolooware, Sydney, and the $30 million Gambaro Hotel adjacent to the iconic Suncorp Stadium in Brisbane.
As the NRL gears up for a historic season launch in Las Vegas, the strategic location of Mercure Kawana Waters adds to its appeal as a savvy investment. The hotel’s proximity to key amenities and the Sunshine Coast Stadium, which serves as an NRL venue, underscores its potential. Recently, the stadium hosted an NRL trial game between the Titans and the Dolphins.
The NRL are the proud new owners of the Mercure Sunshine Bay Kawana Waters.
Gareth Closter remarked, “Opportunities like this in South-East Queensland are highly coveted, particularly in a prime location on the Sunshine Coast. This sale exemplifies the increasing institutionalization of the mid-market hotel sector, with discerning buyers actively seeking such opportunities to bolster their existing portfolios. We’ve observed significant consolidation within this asset class in recent times.”
The Mercure Kawana Waters holds strategic importance being close to the Sunshine Coast Stadium, an NRL venue.
SOURCE: NEWS.COM.AU
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