March Informer 2015 by Resort Brokers

INFORMER ! e t a r b Cele

resortbrokers.com.au

No. 78 | March 2015

Australiaâ&#x20AC;&#x2122;s No.1 tourism & business

inside...

- 2015 85

SILVERNEEDLE - HOTEL GROUP FEATURE 10 FORTUNE FAVOURS BOLD MOTEL BUYERS 18 SURVIVING IN BUSINESS

SELL-EBRATING THE DEFERENCE

FEATURE: NOW & THEN

MANY FACES: IAN CROOKS

MIKE O'CONNORS COLUMN

REGIONAL OVERVIEW - LAUNCESTON

EXCLUSIVE LISTINGS 64 RELIEF MANAGERS 66 AGENT PROFILE - IAN DORE

INDUSTRY SPECIALISTS

MEET OUR TEAM

30 YEARS &

Going Strong IAN CROOKS MANAGING DIRECTOR

NOW AND THEN, IT’S NICE TO HAVE AN EXCUSE TO REFLECT ON THE PAST, WHAT HAS BEEN ACHIEVED, HOW THINGS HAVE CHANGED. CAN YOU IMAGINE DOING BUSINESS WITHOUT A MOBILE PHONE OR ACCESS TO EMAILS? WE LOOK BACK OVER 30 YEARS, A PERIOD WHEN TRAVEL HAS BECOME SO MUCH MORE ACCESSIBLE AND THE TOURISM INDUSTRY HAS FLOURISHED. (SEE PAGE 36) Just as I was about to pen this preface, Deloitte Access Economics’ Tourism and Hotel Market Outlook 2015 report landed on my desk. The first words I read were certainly heartening– “the outlook for Australian tourism has not been more encouraging since pre-GFC.” Better still is their prediction that the “positive demand outlook will only push hotel performance higher nationally – and across most major markets – over the next three years.”

Domestic overnight travel had a standout year in 2014, with visitor nights up by 6.7% (year to September). “This was a particularly large boost for visitor nights” it said, with growth reaching its “fastest pace in two decades.” International visitor arrivals grew by 8.2%, the fastest rate in over a decade. This supports what we’ve been hearing from operators around the traps, with the exception of regional areas where the mining downturn has bitten hard. The lower Australian dollar and cheaper oil prices have been great for tourism. The only niggle on my mind now is the interminable political uncertainty, with States switching governments from one term to the next, and non-stop leadership bickering in Canberra. Who knows? By the time you read this we might have a new Prime Minister. Political instability makes it very difficult for developers to proceed with confidence. The wrangling over Melbourne’s East West Link toll road is just one case in point. It’s no good when vital pieces of infrastructure become political footballs. But… this is not the time or place for dwelling on such things. This edition of the Informer has a celebratory theme, marking 30 years since I established Resort Brokers Australia. What a milestone! Ordinarily, we don’t like to talk too

much about ourselves, preferring to focus on industry issues and identities. But I hope you’ll forgive us if we are just a bit self-indulgent in this issue. Reaching our company’s 30th anniversary prompted us to look at how things have changed in our business over all this time. When I set up shop, Mike Gore was flying his chopper over the swamps that would become Sanctuary Cove, Christopher Skase was zipping up to Port Douglas in his hovercraft, and long ‘business’ lunches were still tax deductible! Take a look at our cover story highlighting how far our industry has come. You’ll also find (I’m a bit embarrassed say) a profile on yours truly. That interview really had me reminiscing. SilverNeedle Hospitality, the name behind the new NEXT Hotels brand, is the subject of our regular accommodation group profile. And there are interesting articles on opportunities in the motel market, the ‘battle of the sexes’, and Tasmania’s beautiful north. Enjoy… and, next time you see one of our team, wish us a happy birthday!

GOT ANY COMMENTS? GET IN TOUCH: CARLACOOK@RESORTBROKERS.COM.AU OR PO BOX 5004, WEST END QLD 4101 resortbrokers.com.au

Exclusive MR

Position, position, position - 4.5 star Yamba beach complex Northern NSW The Sands, an award winning 4.5 star beachfront complex, is located in Yamba on the beautiful north coast of New South Wales. A prestigious contemporary resort, it is themed Mediterranean style and is located on Pippi Beach, a short stroll from Yamba’s town centre. Facilities include a luxury walk-in resort pool and a 21 metre lap pool, hot spa, two full size tennis courts and BBQ entertaining areas. Within the resorts letting pool is a selection of 40 luxuriously appointed two and three bedroom apartments, penthouses, villas and townhouses, all set in manicured landscaped gardens. There is a massive opportunity to grow the letting pool as presently there are 26 units handled through outside agents! Included on the managers freehold title along with the residence are two tennis courts, a large resort style swimming pool, BBQ entertaining areas, a large store room, retail shop with sliding glass doors to street frontage, three station back office, reception with open plan arrival area and coffee lounge. The total area of this freehold title is approximately 2,500m2 and as further upside is zoned medium density permitting three level redevelopment into commercial, retail or residential uses.

The detached manager's residence includes two spacious bedrooms, (main ensuited), additional bathroom, spacious entertainers’ kitchen and separate lounge and dining rooms. Outside is an undercover entertaining patio, wrap-around courtyard, lock-up garage with storage and laundry. • 70 units in the complex, 40 in onsite letting pool, 26 are handled by external agents • 4.5 star beachfront resort with strong repeat net profit • Easily managed by a couple with casual gardener and cleaners • Improve net profit by increasing occupancy above existing 58% • New financials currently being compiled by Holmans - anticipated nett $450K

Nett: $436,540

Price: $2,950,000 neg resortbrokers.com.au/management-rights-for-sale/MR003511

Ian Dore Broker Mobile. +61 412 752 238 Email. iandore@resortbrokers.com.au Headoffice. 07 3878 3999 4

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THE ONE EVERYONE HAS BEEN WAITING FOR... UNDER INSTRUCTIONS FROM RECEIVERS AND MANAGERS, RESORT BROKERS AUSTRALIA PRESENT TO THE MARKET FOR THE FIRST TIME THE MANAGEMENT RIGHTS AND ASSOCIATED REAL ESTATE TO SOUL, 8 THE ESPLANADE, SURFERS PARADISE

SOU CONTACT ALEX COOK 0467 600 610 GLENN MILLAR 0412 277 804 RESORTBROKERS.COM.AU 6

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COMPLETED IN LATE 2011, SOUL SURFERS PARADISE REPRESENTS THE PINNACLE OF LUXURY ACCOMMODATION ON THE GOLD COAST. THE GLEAMING TOWER, RISING TO A BREATHTAKING 77 LEVELS, IS ONE OF THE TALLEST RESIDENTIAL BUILDINGS IN AUSTRALIA AND HAS A TOTAL OF 287 APARTMENTS. Located at the corner of The Esplanade and Cavill Avenue, this iconic property boasts the Gold Coast’s most prized and emblematic address. The expansive 8,260m2 site faces 114m’s of absolute beachfront and extends 55m’s along Cavill Mall. From stylish one-bedroom ocean view apartments to the ultimate lavish subpenthouse experience, the accommodation options are truly world-class. Guests are also treated to an unparalleled selection of amenities, including the phenomenal tiered resort pool, offering unbroken views of the beach and ocean from its lofty platform. The real estate associated with the management rights is extensive, providing the new owner with a large degree of autonomy over the operation of the property as well as potential growth avenues for the business. These include, but are not limited to, the reception, back offices, conference centre, ‘Seaduction’ restaurant, kitchens, storage areas, staff and housekeeping rooms.

• Supervisory caretaking agreement • Total of 287 apartments - currently 175+ in the letting pool • Substantial tenure on caretaking/letting agreements • Facilities include resort pool, indoor lap pool, sauna, steam room, dual gym and gardens • All rooms finished to an exacting standard with quality furniture packs • Associated real estate – lot 101 and 4006 Offers are invited through an 'Expressions of Interest' campaign. This will commence on March 6th 2015, with all offers to be submitted by 5pm on April 13th 2015. Qualified parties will be provided access to a data room with extensive financial and operational information. Interested parties are encouraged to conduct due diligence during the EOI period. Completed confidentiality agreements will be required. PLEASE NOTE: The above information was deemed to be correct at the time of publication and could change at any time. NETT PROFIT - ON APPLICATION EXPRESSIONS OF INTEREST

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Exclusive OTP

Breeze is a breath of fresh air & a new archetype in coastal apartment living Breeze, Mooloolaba is being developed by the award winning Aria Property Group, well known for delivering the most stylish architectural designs, fit-outs and finishes. Breeze consists of 58 apartments rising over nine stories and is located on one of the last remaining ocean view sites in the region. It is anticipated that up to 85% of these apartments will be sold to investors and will be available for the managers letting pool. A clawback/claw forward arrangement will be in place as per standard industry practice. Construction is forecasted to commence mid 2015 and to completed by mid to late 2016. ARIA is a privately owned development company founded in 2003 by Tim Forrester. The firm has gone from strength to strength in recent years by specialising in quality developments in prime locations. Current projects can be found in Brisbane, Sunshine Coast, Melbourne and Colorado (USA).

Aria are seeking offers from interested parties who have prior operating experience in a high end management rights complex. The manager’s lot is the biggest two bedroom, two bathroom apartment in the building with an enormous 55m2 courtyard. It is located on the ground floor with a separate entry beside the office/ reception. • Luxury fit-out and fixtures • Ideally located with fantastic panoramic views • Brand new 25 year agreement with automatic body corporate approval

Nett: $584,269

Expressions of Interest

Due to the specialised nature of holiday let income projections, Aria have commissioned specialist management rights accountants PBB Consult to prepare professional projections.

resortbrokers.com.au/management-rights-for-sale/OTP003620

Tim Crooks

Glenn Millar

Broker

Mobile. +61 422 208 450

Mobile. +61 412 277 804

Email. timcrooks@resortbrokers.com.au

Email. glennmillar@resortbrokers.com.au

Headoffice. 07 3878 3999

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Exclusive OTP

The jewel in South Brisbane‘s crown Melbourne Residences The jewel in South Brisbane’s crown, Melbourne Residences is the hottest new building to hit South East Queensland. All the apartments were sold in just 30 days! This is an opportunity not too be missed. The winning design, by Tony Owen Partners, is unlike anything ever seen on Brisbane’s skyline. Consisting of 178 units and rising over 18 stories, the site benefits from retail on both Melbourne Street and Fish Lane. Aria understands the importance of having only the best café, restaurant and retail operators to make Melbourne Residence come alive. Income projections prepared by industry specialist accountants, McAdam Siemon, are based on 90% investors and 10% owner occupiers. The business includes a conveniently located office and storage area (occupation authority/exclusive use). No set office hours in agreements and a cutting edge management system means that you can focus on the job at hand.

The complex has been designed to take full advantage of South Brisbane's flourishing city neighbourhood vibe, with its brilliant view lines and seamless connectivity. Seen from the outside, its strong and bold entrance makes a real statement. Inside the quality living environments have been created to suit a variety of requirements. • 190 car parks (one per apartment, plus 10 visitors / retail) • High quality interior finishes • Rooftop pool, BBQ and entertainment area • Construction start forecast – early 2015 • Construction complete forecast – mid to late 2016

Nett: $911,000

Expressions of Interest resortbrokers.com.au/management-rights-for-sale/OTP003636

Tim Crooks Broker Mobile. +61 422 208 450 Email. timcrooks@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

EDITORIAL

Essence

OF INNOVATION AND HOSPITALITY

IN THIS SERIES OF ARTICLES, WE PROFILE LEADING SHORT-TERM ACCOMMODATION OPERATORS – THEIR ORIGINS, GROWTH, MARKET POSITION, AND FUTURE PLANS.

SILVER NEEDLE IS THE FINEST AND MOST EXQUISITE OF ALL WHITE TEAS. GATHERED FOR ONLY A FEW DAYS IN EARLY SPRING, IT TAKES MORE THAN 4,500 HAND-SORTED BUDS TO MAKE JUST 500 GRAMS. REPRESENTING THE PRECIOUS ESSENCE OF HOSPITALITY, ITS NAME NOW SIGNIFIES A PROGRESSIVE YOUNG HOTEL GROUP WITH AN INNOVATIVE APPROACH TO GROWTH IN ASIA-PACIFIC, SILVERNEEDLE HOSPITALITY. Though a relative newcomer, SilverNeedle Hospitality is endowed with impressive provenance. It was founded in Singapore in 2011 as a solely-owned subsidiary of Nadathur Group, the private investment firm of N.S. Raghavan, co-founder of NASDAQlisted Infosys Technologies. Its launch pad was the acquisition of Australia’s Constellation Hotels, a respected operator that had just won the HMAA’s coveted Hotel Chain of the Year Award. Constellation brought established brands Chifley, Australis, Country Comfort and Sundowner and a 60-strong portfolio of hotels, motels, resorts and apartment buildings. SilverNeedle also acquired a Bangkokbased hotel management company, Ativa, which contributed up-market boutique hotels in Thailand and Laos. The plan was not only to become one of the major regional hotel industry players, but to shake up the sector a little with a cutting-edge approach to accommodation services. Their philosophy is expressed as “innovative ideas, flawlessly executed”. SilverNeedle Hospitality is headed by Managing Director and Group CEO, Iqbal Jumabhoy, who came to the group from Rendezvous Hospitality Group, where he was CEO. 10

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Ayers Rock Resort, Ayers Rock

Riva Surya Bangkok - Lobby

Helping him to drive growth is Australian Andrew Turner, an industry veteran who was 14 years with Mirvac Hotels and Resorts where he ended up as CEO. Now Singapore-based as Executive Vice President, Business Development, he says SilverNeedle Hospitality aims to expand to 100 hotels across Asia-Pacific within three to four years. “We are an integrated hospitality investment, management and development company focused on mid to upscale hotels and resorts that are intelligently designed and operated for the professional and leisure needs of the business traveller,” Turner says. “Currently we operate 60 hotels with over 4,000 keys and employ around 1500 staff.” If you were wondering ‘what’s next’ for this growing operator, you’d be right. NEXT Hotels is indeed the ‘next generation’, a new flagship brand targeted squarely at the modern business traveller. And, again, Australia has provided the starting point. In 2012, SilverNeedle Hospitality bought the freehold of a Brisbane hotel landmark, The Chifley at Lennons, which it already operated. Then it set-about a radical rebuild of the prime CBD property fronting Queen Street Mall, to develop the world’s first NEXT Hotel. It was a bold move to usher in what would

be their flagship upperscale brand. When the 304-room hotel opened last year, SilverNeedle’s core value – innovation – was delivered in spades. So too the NEXT brand promise, “designed to make your time count”. This is the first hotel were guests, by downloading the NEXT App, can use their smartphones as room keys, to check in and check out, to control their air conditioner, lights and entertainment system, even order room service. Or, if they prefer, they can use the Samsung Galaxy S4 provided in every room. This device, loaded with local information for visitors, also allows free local calls, cheaper

Chifley Newcastle - Exterior

NEXT Brisbane - Lennons Restaurant

NEXT Brisbane - Swimming Pool

NEXT Brisbane - Deluxe King Room

international calls, and can be taken out of the hotel so you can receive calls on the move. Wi-Fi is not restricted (a necessity, not a luxury), the mini bar includes four free items daily, and a Club Lounge provides snacks and drinks all day, as well as baggage lockers and

sleep and shower pods for those who might land early, before check-in time. Turner says SilverNeedle Hospitality is justifiably proud of its new NEXT Hotels concept, seeing it as providing the company’s key growth opportunity. “We live in an age where choice, resortbrokers.com.au

EDITORIAL personalisation, speed and value are paramount. Innovative strategies and technologies are vital to create greater choice, flexibility and control for our guests.” Currently SilverNeedle is in a joint venture with a major Sri Lankan retail corporation to develop the US$150 million mixed-use Colombo City Centre, which will include a 200-room NEXT Hotel. More NEXT Hotels are in the pipeline for Australia too. “Our main path to expansion in Australia will be through hotel management, and we are in negotiations with property owners to operate hotels in locations including Canberra, Melbourne and Perth,” he said. SilverNeedle Hospitality will also introduce its second new brand in Brisbane. Their first Sage Hotel will occupy a converted 1902 department store and office building now undergoing renovations in Fortitude Valley. The 4-star boutique Sage brand has been conceived to “make things uncomplicated for the conservative business traveller”, focusing on “simplicity, familiarity and consistency.” Turner says a purpose-built Sage Hotel is also under construction in Perth, due to open in March next year, and others are planned for Adelaide and Wollongong where existing Chifley properties will be refurbished and relaunched. “The Chifley brand, signifying classic comfort, quality and warm service at a fair

price, will certainly remain important, but increasingly it will be a serviced apartment brand,” he said. “Our other major brand, Country Comfort, which has a long history in Australia as a respected three-and-a-half-star chain, will be refreshed and relaunched. We see excellent opportunities for Country Comfort to expand across Asia, in countries like Thailand and Malaysia.” Also in the company’s portfolio is its SilverNeedle Collection, independently owned, luxury boutique hotels and resorts offering unique and authentic experiences in destinations including Bangkok and Chiang Mai in Thailand, and Luang Prabang, Laos. “We are looking for opportunities to add to this signature collection in Australia, with five-star boutique hotels and resorts in outstanding locations,” Turner confirmed. Headquartered in Singapore, SilverNeedle Hospitality has regional offices in Bangkok, Bangalore and Sydney. They say the dynamic growth in Asia, where large segments of the population are becoming increasingly affluent, make it a major target for expansion. But the group also wants to continue its spread in Australia. As both owners and managers, SilverNeedle will utilise the gamut of industry models to pursue growth. “While acquisition was the catalyst for the company initially, and we are open to development opportunities, we are primarily

focused on adding established properties to grow our footprint,” Turner said. “However, we are flexible in our approach. We also own a number of management rights in Australia, on the Gold Coast, Sunshine Coast and in Newcastle, and we are working with developers in Australia who are producing more serviced apartment products. “We are also looking at a franchising model to grow our Country Comfort brand in Asia.” Here in Australia, SilverNeedle Hospitality’s NEXT Hotels brand debut made a big impact, standing out from the crowd with its high-tech design and concept. But Andrew Turner reminds us that simple pleasures – just as the traditional welcoming gesture of the offer of a cup of tea – are fundamental to hospitality excellence. “Making sure our service is consistent and convenient is the key. Technology is one way of delivering innovation, and a very important one. But every element, from room design to our state-of-the-art bed system, and our very innovative and interesting food and beverage offerings are critical to hospitality excellence,” he said. “With NEXT, we are the first, but that will change. Being innovative means always striving to stay ahead, being nimble and responsive to guest needs, and setting the pace.” END

CHANGES TO NSW SWIMMING POOL REQUIREMENTS IN SALE CONTRACTS

The regulations apply to swimming pools and spa pools. Local councils and accredited private certifiers can carry out an inspection and issue a Certificate of Compliance that the swimming pool or spa pool meets all safety requirements. A swimming pool Certificate of Compliance is valid for a period of 3 years from the date of its issue. To check whether a Certificate of Compliance has been issued, go online to the New South Wales Government Swimming Pool Register. Failure to attach the Certificates to a Contract of Sale may allow the purchaser to rescind the contract within 14 days of exchange unless settlement has already occurred. If vendors are considering listing properties for sale in the near future, urgent steps should be taken to have the local authority or an appropriately qualified certifier inspect the pool with a view to determining what work, if any, is needed to be done so that a Certificate of Compliance can issue. Because of the number of pools throughout the state, many of which will be non-compliant, there will be pressure on local authorities and certifiers to do inspections and produce certificates within short time frames. Vendors are therefore advised to act quickly to start the process in readiness for sale. END

BY DAVID BURROUGH HILLHOUSE BURROUGH MCKEOWN If any property with a swimming pool or spa pool is being sold after the 29th of April 2015 the Contract of Sale must include: 1. A valid swimming pool Certificate of Compliance or a relevant occupation certification issued within the last 3 years; and 2. A Certificate of Registration. Swimming pool owners are required to register their pools online on the New 12

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South Wales Government Swimming Pool Register. This has been the case since 2012 due to amendment to the Swimming Pools Act 1992. Once the swimming pool is registered online the pool owner is issued with a Certificate of Registration. From 29 April 2015 owners are required to attach both a Certificate of Registration and a Certificate of Compliance to a contract for sale of property with a swimming pool. Residential properties also cannot be let until the Certificates have been obtained. Contracts for the sale of businesses such as motels and caravan parks should also attach both certificates. Almost all Leases require tenants to comply with such regulations. In strata complexes responsibility for the certificates fall to the owners corporation (or body corporate).

Seminars 2015 1st S em Perth inar , WA 29th April

Do you want to join Australia's fastest growing serviced apartment group? Do you want to be your own boss? Do you want to be an active serviced apartment operator? Or maybe you want to be a passive investor in a great business? Whatever you are looking for, our new buyer seminars will point you in the right direction. In conjunction with the Holmans Accountants, Mike Phipps Finance and Resort Brokers Australia, these informative events will explain the serviced apartment model and help you become a part of the rapidly growing Quest Franchise family.

For more information visit: questapartments.com.au/franchising or resortbrokers.com.au/learn/events

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Exclusive

Absolute beachfront with large nett! It doesn't get much better than this This is your opportunity for you and your family to live the dream beach lifestyle. With a stunning three bedroom owner/manager's home overlooking beautiful Short Point Beach, Merimbula, the lucky purchaser of this property can live in comfort while watching the dollars roll in. The beachfront park consists of 25 beautifully appointed 3.5 star cabins. It benefits from having no camping, no caravans, no permanent and no amenities block to look after, making this proposition a breeze to operate. Having just enjoyed the best month on record, this business offers an operator great security with very consistent income and solid repeat trade. After raising their family in this idyllic location the current owners are looking to retire after 12 years.

It has a number of galleries and museums and the area also features whale watching (from September to November), golf tournaments, food festivals, jazz festivals and spring carnival. This once in a lifetime opportunity is being offered by expressions of interest which closes on the 20th April 2015. • Magnificent three bedroom family residence • Very consistent business with strong repeat trade • 25 immaculate 3.5 star cabins • No camping, caravans or permanents

Expressions of interest Closes 20th April 2015

A great thing about this opportunity is that the property is located on crown land, meaning the incoming purchaser gets the security and control of the property as if it was a freehold but without the price tag. Merimbula is a magnificent beachside town with pristine beaches, lakes, restaurants and sporting facilities.

resortbrokers.com.au/caravan-parks-for-sale/LH003637

Russell Rogers Broker Mobile. +61 416 166 909 Email. russellrogers@resortbrokers.com.au Sydney Office. 02 9904 8224 14

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style + momentum Soho Suites

Darwin’s Newest International Hotel Freehold 4.5 star CBD Hotel + Management Rights Business For Sale by Expressions of Interest Proudly offered for the first time to market exclusively through Resort Brokers Australia and Prime Resort Services, Élan Soho Suites presents a truly unique opportunity in the heart of booming Darwin, the vibrant capital of Northern Australia and gateway to Asia. The brand new Élan Soho Suites rises to 27 levels, its prime CBD position commanding stunning views across the city, Darwin Harbour and Frances Bay. With a polished blend of sophisticated city chic and Darwin’s famous laid-back tropical spirit, this stunning property has captured an immediate market in a thriving city where accommodation supply is short and demand is strong. Its ideal accommodation mix with 88 freehold titles featuring 168 keys plus 123 two bedroom and 10 one bedroom apartments, catering for the diverse needs of both business and leisure travellers. The entire podium level is dedicated to conferencing and functions and, at street level, Darwin’s first Korean restaurant, Seoul Food, is a favourite among locals and visitors. Added to these features are impressive resort recreation facilities and a superb location close to Darwin’s best shopping and dining precincts, within easy reach of the Darwin Waterfront, Cruise Ship Terminal, and main government offices and businesses.

+ Darwin room rates kept growing at Australia’s fastest pace in 2014 Deloitte Access Economics Tourism and Hotel Outlook 2015 + Darwin 2014 average occupancy rate 76% - NT Tourism, 12 months to December 2014 + Darwin average room rate $200 2014 Hotels.com hotels index +É lan Soho Suites apartments let for $310 - $450 per night • Freehold going concern 4.5 star international hotel • Management rights - 133 apartments • Modern Conference Centre, 410 capacity, 6 event spaces, dedicated kitchen • Seoul Food, 80 seat restaurant, modern Korean and Australian cuisine • 126 on title car parks plus 133 under management • Lap pool and adjacent fully-equipped gymnasium on level 6 • High tech features and WiFi throughout

Trudy Crooks M: +61 477 882 210 E: trudycrooks@resortbrokers.com.au Steve Dawson M: +62 813 376 89000 E: steve@prsbali.com resortbrokers.com.au

Exclusive LH

Australia's best hotel opportunity! Earn 40% return in first year growing to 58% in year three On offer is a brand new 30 year lease to The Kimberley Grande Hotel which is a prestigious property in the heart of the Orde River region. Boasting 72 of the largest, four star rooms you are likely to visit, this property has to be seen to be believed. The current owners have just finished a multi million dollar refurbishment on the property. This has included all rooms being fully updated with new beds, soft furnishings, carpet and 50 inch TV's. The hotel is surrounded by newly landscaped gardens that are easy to maintain.

There is absolutely no money to spend and plenty of upside for an experienced operator looking for a fantastic opportunity. The Kimberley Grande is a property anyone would be proud to call their own! • Brand new 30 year lease • Built in 2007; fully refurbished last year • Complete to a 4 star standard • Two restaurants • Conference facilities • Many different possible income streams • Located in heart of the Orde River growth area

The property was built in mid 2000's from imported Freemantle Sandstone. It benefits from an abundance of features including a 25 metre swimming pool, two restaurants, conference facilities and sports bar. This allows the successful purchaser many potential ways to create new income streams and develop the existing ones. The region is popular with both bus tours and with road travellers, who would relish the opportunity to enjoy this magnificent property.

resortbrokers.com.au/motels-for-sale/LH003589

Ian Crooks

Trudy Crooks

Broker

With Accommodation West Pty Ltd as Accommodation West

Nett: $891,586 projected

Price: $2,250,000

Mobile. +61 411 171 648

Mobile. +61 477 882 210

Email. iancrooks@resortbrokers.com.au

Email. trudycrooks@resortbrokers.com.au

Headoffice. 07 3878 3999

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HiRUM Front Desk Call us now to see why more motels choose HiRUM Front Desk for their reservation software. Enjoy the ease of seamless integration to your online distribution network. One product can service your whole business. HiRUM Front Desk is the complete solution for motels around the world.

Call 07 5574 4990 or email sales@hirum.com.au to order yours today!

EDITORIAL

FORTUNE FAVOURS THE BOLD MOTEL

Buyer SIGNIFICANT OPPORTUNITIES ARE NOW AVAILABLE IN REGIONAL AUSTRALIA FOR EXPERIENCED, RESOURCEFUL MOTEL OPERATORS WILLING TO BACK THEIR OWN JUDGMENT AND ABILITY. AMID THE FALLOUT AFTER THE MINING CONSTRUCTION BOOM, FORTUNE WILL INDEED FAVOUR THE BOLD. Many strong regional towns suffered a dramatic downturn as mining construction declined. Motels that experienced outstanding trading during the resourcefuelled boom, now find a remarkable high has been followed by a demoralising low. Some who reaped considerable benefits during the good times have, sadly, had their spirits knocked by the downturn. Understandably, they are ready and eager to sell and move on. So, as one door closes, another door opens. And on the threshold are canny, counter-cyclical investors with the wherewithal to step in and drive a turnaround. “In many cases these are historically good motel towns, but they are suffering a tough downturn. That is where the real opportunities lie,” says Resort Brokers national sales manager Trudy Crooks. “It’s not for everyone, however. You have to know what you’re doing. “If you do, you will recognise quality properties in fundamentally strong motel markets, where you can buy at a very attractive price, hold it, drive the business and, potentially achieve very strong returns down the track.” Ms Crooks cautioned buyers interested in struggling regional motels to do their homework carefully to ensure they are paying a fair market price based on current conditions. “Look at the most recent six months trading results and compare those to the same period in the previous year,” she said. “In most cases, the recent half year will be down significantly on the corresponding six months in the year before. “Therefore, the motel price needs to reflect the net profit of the most recent trading period.” The gains possible when experienced operators take advantage of the cyclical

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nature of the accommodation property business are clearly demonstrated. “Four or five years ago, management rights in the big coastal resort areas were hard to sell” she recalled. “But those who had the vision to buy during the downturn are certainly reaping the rewards now that they’ve rebounded so strongly. “There has been a real role reversal – the regional areas were flying when the coast was in a lull, and now the opposite is true.” According to Resort Brokers managing director Ian Crooks, the impact of mining camps on the mainstream accommodation industry cannot be ignored. Motels in many key regional centres, he said, would still be doing reasonable business, if not for mining camps that continued to operate beyond their intended or permitted scope. “In some places, mining camps permitted only to operate during a project’s construction phase have remained open and are now offering short-term accommodation in competition with motels,” he said. “I’m pleased to see action has been taken in some areas, with show cause notices issued. If more of these camps were closed down, as they should be, it would bring life back, not just to local motels, but to the towns in general. “I think that will happen, and it is another factor to be considered by those who are in a position to grab the significant opportunities out there now. “The fact is, right now, a lot of regional motel owners want to move on.” Advice from renowned counter-cyclical investor Warren Buffet:

“BE FEARFUL WHEN OTHERS ARE GREEDY AND GREEDY WHEN OTHERS ARE FEARFUL.”

SURVIVING IN BUSINESS BY FRANK HIGGINSON - HYNES LEGAL Most people will have heard the phrase that there are only two certainties in life – those usually being death and taxes. I think there is one more certainty you can add in a business context – and that is change. Afloat on the sea that is running your own business, you need to be prepared for change. The pace at which today’s business environment is changing is astonishing. Helped largely by the internet, and then the technology that runs hand in glove with that, existing business models are dying and new models starting almost every day.

Resilience is one of the key strengths you need to survive in any business environment. The pace of change only reinforces the need for that resilience. A few make it. Some make it in a spectacular way. Those are the ones that grab the headlines. Most don’t make it – but we don’t see that carnage played out so publicly in the media. You see it if you follow insolvency statistics and company wind up notices. Probably the most recent headline grabbing one is the ride sharing app Uber. The impact this is having on the taxi industry is yet to be fully played out, but consider the impact that is having on the taxi market as a whole - from income for cab drivers (of which my father is one of many) through to the loss in capital value of taxi plates through to the value of the listed company Cabcharge. Uber will (or is) affecting all of those. Having said all that, the headlines that Uber is currently generating will no doubt be relegated to the later pages of the newspapers (or online portals) soon by something else just as disruptive to another industry. The same risks apply to every industry and business model. In some sense, it is not a matter of ‘if’ for anyone – it is a matter of when your industry will be disrupted, and by what means. Some of it might be caused by you and some by others. Usually it will be a mix of both. The pace of change today seems far more rapid than that of a decade ago, but perhaps it wasn’t. The last 10 years have been very interesting to say the least. The GFC commenced in Australia about 8 years ago. We are still living with some legacies of that – not the least of which is our Federal government debt. In that context you can only congratulate people who have been in business for longer. Thirty years is a long time. Running a business involves risk and pain, but also reward (financial and lifestyle) to compensate for that risk. You become irretrievably committed to your business enterprise (through ownership, leases, contracts and debt). Skin in the game is the ultimate sign of commitment in a business sense. That skin needs to be thick. If running your own business was easy, everyone would be doing it. To have survived (or endured?) for that long means that you are without doubt battle-scarred, bruised and wiser for the experience. It also means that you obviously can pick yourself up off the floor that you will inevitably finish on at some stage and keep going. The ability to remain positive, despite the circumstances, is also a necessary mind set. So to Ian Crooks and his crew – congratulations. Surviving 30 years in any industry and adapting to the inevitable changes that occur is a herculean effort. I only hope that Hynes Legal can emulate that! END resortbrokers.com.au

Exclusive LH FHGC

Magnificent freehold going concern - opportunity to buy one of the best motels in Rockhampton This property offers unusual options for the discerning buyer. Already working very successfully as a 18 unit boutique motel and eatery, there are several options if you look further ahead. Lease the eatery off separately, sell the already strata titled units off separately or continue as is (with the manager living off site). One of the favourable things about the current situation is that the reception staff and the manager can help with the eatery as well as the motel. The secure safe for keys means night arrivals do not need the reception area to be open. This property sits comfortably at the top end of the market and has great appeal for the corporate industry. The Bliss Café has only recently started opening at night and has been a huge success catering to guests and locals alike. It has certainly filled an open niche in the Rocky restaurants scene. Rockhampton is a large city on the central Queensland coast and caters to a large outlying area including Longreach and Emerald. The excellent hospitals and private schools bring many visitors to the town. Naturally, beef is the biggest attraction in the agricultural field.

Flights from Brisbane to Rocky can be purchased at a relatively low price and the highway is in excellent condition. Being only a comfortable days drive, means there are lots of inner state visitors. In this day of motel leases we are proud to offer a straight freehold to the market. With no live in residence, this is the perfect combination for work and family life if you chose to run the property yourself or with family. Lots of decisions, but of course the most important one is to arrange an inspection and get excited about this beautifully presented and cared for 5 story boutique motel. • 4.5 star triple AAA rated • In excess of $200,000 depreciation • Due to age no refurbishment etc necessary

Nett: $762,000

Price: $6,600,000 resortbrokers.com.au/motels-for-sale/FH003609

Len Booth Broker Mobile. +61 438 139 422 Email. lenbooth@resortbrokers.com.au Headoffice. 07 3878 3999 20

resortbrokers.com.au

Exclusive LH

4 star Tasmanian resort hotel returning 33% return on investment On offer is an opportunity to secure the leasehold interest of a four star purpose built hotel constructed in 2006. Tidal Waters Resort St Helens, surrounded by three hectares of scenic lagoons and gardens, boasts the definitive Tasmanian East Coast waterfront setting. Conveniently located in the seaside town of St Helens on the East Coast of Tasmania, some 260 kilometres north-east of Hobart and 168 kilometres from Launceston. Tidal Waters is a true resort/corporate facility with a magnificent entrance foyer and reception. Facilities include a conference, wedding and function centre; meeting rooms; two restaurants; bar; guest lounges; tour desk/shop; outdoor heated pool; guest laundry; outdoor deck and substantial on-site parking. The business is fully staffed with limited day to day vendor involvement. The business will only improve with more hands on owner involvement. St. Helens has developed as a major Tasmanian holiday destination for locals and tourists seeking a seaside holiday adventure or fishing pursuits.

Many tourists use St. Helens as their base when visiting the many tourism facilities on the east coast of Tasmania including the Freycinet Peninsula and Wineglass Bay. • East coast seaside tourism and holiday mecca overlooking St. Georges Bay • Substantial resort facility constructed in 2006 • Long lease. Market rent • Currently run under management would benefit from 'hands on' ownership • Consistent incomes from accommodation, conferences, functions, food and beverage • Easy access to Hobart, Launceston and mainland ferry service

Nett: $515,276

Price: $1,550,00 plus stock resortbrokers.com.au/motels-for-sale/LH003565

Jim Chapman

Ray Ironside

Broker

Mobile. +61 413 444 782

Mobile. +61 418 130 364

Email. jimchapman@resortbrokers.com.au

Email. rayironside@resortbrokers.com.au

Melbourne Office. 03 9347 3100

Tasmanian Office. 03 6344 6780 resortbrokers.com.au

Exclusive FH

Majestic freehold motel in picturesque Goulburn - an absolute beauty! The Alpine Heritage Motel is a 44 unit heritage listed motel in the heart of historic Goulburn. The property is centrally located, across the road from Goulburn train station and has ample parking and comfortable rooms for your guests. There is a large variety of rooms ranging from single budget rooms through to large spacious family rooms opening onto terrace house balconies.

• 44 motel units • Centrally located • Situated opposite Goulburn train station • Consistently high occupancy throughout the year • 2014 calendar year turnover $912,000 • 1 bedroom managers apartment • Development potential STCA • Agents interest

Currently run under management, it would definitely suit an enthusiastic owner operator to add their own personal touches to this majestic beauty. Specialising in the budget/worker market segment, with occupancy running as high as 90% on a very low tariff, the motel has huge potential to raise tariffs and increase the bottom line. The motel has over 2000m2 of vacant land for future development STCA.

Nett: $530,000

Price: $4,150,000 resortbrokers.com.au/motels-for-sale/LH003352

Russell Rogers Broker Mobile. +61 416 166 909 Email. russellrogers@resortbrokers.com.au Sydney Office. 02 9904 8224 22

resortbrokers.com.au

Exclusive MR

Own a boutique hotel in the heart of Brisbane $550,000+ nett and no real estate to buy! Very rarely do opportunities this good come along! The Chino is a magnificent privately owned hotel only 4kms from the Brisbane CBD in the heart of Woolloongabba. As a class three building it is zoned for short term accommodation and is very popular with the corporate traveller. The property consists of 28 one bedroom apartments and 38 studio apartments, all finished to a high 4.5 star standard. It has all the benefits of a standard short term management rights building including body corporate salary and long term agreements. Plus the added bonus of a long term lease over the studios which means the successful purchaser has absolute control of the building, with no risk of ever losing any of the studios from the letting pool. Even more incredibly, this lease has no fixed rental, so you have full reign of the property.

Other features of the property include an inviting lap pool, ample underground parking and a large reception and back office adjacent to the Chino Bar and Restaurant. An incoming purchaser can decide to either rent this restaurant and operate it themselves, or alternatively, should they not wish to deal in F&B, the owners will sub let this space to an outside restaurant operator. The vendors are wanting an experienced operator and are therefore putting a very reasonable price on this cracking short term hotel business! • 28 one beds all on two year lease back • 38 studios all under long term lease with 50/50 (no set rent!) • Restaurant is optional • No need to live on site • Long term agreements 23 – 25 years

Opened in July 2009, this hotel has always been perfectly maintained, with no money needed to be spent. Built over four floors, this cleverly designed building caters for all clientele. Many of the units are dual key, making them ideal for private individuals whilst allowing for groups of tourists as well.

resortbrokers.com.au/hotels-for-sale/MR003638

Trudy Crooks

Ian Crooks

Broker

Nett: $579,000

Price: $2,950,000

Mobile. +61 477 882 210

Mobile. +61 411 171 648

Email. trudycrooks@resortbrokers.com.au

Email. iancrooks@resortbrokers.com.au

Headoffice. 07 3878 3999

Headoffice. 07 3878 3999 resortbrokers.com.au

Exclusive FHGC

Cairns is back! Rare freehold motel – a cracking opportunity Cairns is back in the market! Comfort Inn Discovery Cairns is being offered for sale as a freehold going concern for the first time in almost 10 years. This investment is blue chip, with plenty of up-side. Located in the hospital precinct, on the CBD fringe, Discovery boasts a variety of accommodation options ideal for both domestic and international guests and, very importantly, for the corporate traveller. Its recent branding as a Comfort Inn by Choice Hotels has produced a very healthy premium on room rates, above those previously achieved. Results are set to flow through in the second half of this financial year, establishing a firm foundation for profitable sales ahead. With 53 rooms, restaurant (currently leased), two pools, dual street frontage and a large reception area, this is an opportunity not to be missed. The leasehold business is positioned for sale concurrent with the property investment, presenting an extremely attractive freehold going concern proposition. After a number of years together, both parties have decided to capitalise on their respective investments.

Seldom do inner city properties enter the market, so this is a rare and significant opportunity – INSPECT NOW! • New branding Comfort Inn - Choice Hotels • Inner city location between CBD and hospital precinct • Dual street frontage for further development in the future • Extra land parcel adjacent to the hotel for use in further development • Strong trading foot hold with an opportunity to increase • Freehold motel rarely seen in the market

Nett: $553,500

Price: $4,950,000 resortbrokers.com.au/motels-for-sale/FH003556

Shane Mullins Broker Mobile. +61 447 185 001 Email. shanemullins@resortbrokers.com.au Headoffice. 07 3878 3999 24

resortbrokers.com.au

Exclusive LH

A rare opportunity to purchase an outstanding motel lease in thriving Orange The Sundowner Oriana Motor Inn is a fabulous property based in Orange in the heart of the NSW central tablelands. This motel is a genuine earner with strong repeat business and is well supported by corporate, government and leisure clientele. Situated on parklike grounds, an inviting pool and entertainment area provide ample space for guests to relax. The Oriana also features a 50 seat restaurant and spacious conference room with a generous commercial kitchen to cater for functions and events. With a strong occupancy and excellent repeat business, the Oriana Motor Inn is an exceptional business with solid returns and includes a long 28 year lease. This 3.5 star property is in excellent condition, with all rooms having been recently painted and beds being triple sheeted to achieve a quality standard. Lease opportunities like this are rare, so be quick to inspect.

• Long 28 year lease • 49 spacious rooms • Licensed restaurant and conference area • Spacious grounds • Separate three bedroom, one bathroom manager's house adjacent the property • 75% occupancy • Strong repeat clientele • Excellent motel town

Nett: $480,000

Price: $1,595,000 resortbrokers.com.au/motels-for-sale/LH003578

Shane Wynhoven Broker Mobile. +61 424 174 592 Email. shanewyhoven@resortbrokers.com.au Sydney Office. 02 9904 8224 resortbrokers.com.au

EDITORIAL

‘SELL-EBRATING’ THE

Difference

EVERY MARCH FOR MORE THAN 100 YEARS THE WORLD HAS MARKED INTERNATIONAL WOMEN’S DAY, TO PROMOTE AND CELEBRATE WOMEN’S ADVANCEMENT. IT IS A REMINDER THAT WOMEN ARE STILL UNDER-REPRESENTED IN MANY INDUSTRIES AND PROFESSIONS – PROPERTY AND SALES AMONG THEM. SO LET’S TAKE A LOOK AT WHY WE SHOULD PURSUE GREATER GENDER BALANCE. BY CATIE LANGDON Women are increasingly making their mark as highly effective, successful brokers and managers here at Resort Brokers Australia. So it’s no surprise the water cooler discussions occasionally run to gentle jibes about our ‘wonder women’ and ‘super men’. You’d be a brave (foolish) person indeed to suggest either gender makes the better salesperson. Despite a good deal of research and analysis, even the experts haven’t reached any definitive conclusions one way or the other. Indeed, the important question really isn’t whether either gender is better at selling. What really matters is that they are different. And it is the differences that need to be understood and accepted. There is no denying, the sales industry has traditionally been male dominated. And it still is. But national sales manager Trudy Crooks says it makes good sense for Resort Brokers to work towards a better 26

resortbrokers.com.au

gender balance in the sales team. Trudy cut her own sales teeth in the highly competitive London property market. She regularly outsold the chaps, notching up plenty of ‘top sales agent’ awards, and rising to manage an elite Mayfair office with a team of 20 people. “I think women have vital character traits and skills that can be a real advantage. They’re often more organised, systematic and thorough. And they’re better listeners, more intuitive and understanding,” she says. The research supports her view. This probably comes as no surprise, but men and women do think differently. According to scholarly psychologists and neurologists, men can be better at dealing with facts and quicker to take action, while women are better at integrating the analytic side of the brain with the intuitive and social side. A study undertaken by executive recruiters Mahlab said, “Women are often better listeners and tend to pick up more body language and voice inflection cues.” Specialists in corporate psychological profiling, Arch Profile, say women tend to be more helpful and attentive to detail, ideal traits when developing and maintaining relationships. It’s a finding that strikes a chord with broker Carolyn Griffith, who had a long and successful sales record in the media, real estate and motor vehicle sectors before joining Resort Brokers. She makes this very point in her own CV, stating her “firm belief that forming relationships and friendships is the winning formula to a successful sales career.” Fellow broker Jenny Sorenson, whose sales success with Mitsubishi led to a senior executive appointment in corporate development, also reminds us that women have a real flair for and dedication to customer

service. As the study by Arch Profile found, men might take a more assertive approach, while women take the kind, helpful route. In Victoria, broker Liz Galea has joined Resort Brokers after excelling in sales with leading accommodation chains and then running her own Quest apartments franchises. Liz has found feminine empathy and communication skills are integral in a world where studies confirm women make or influence around 85% of all purchasing decisions. “I had three separate women in one day tell me how nice it was to be dealing with a female broker,” Liz said. It’s probably what entrepreneur Marion Luna Brem was referring to in her 2004 bestseller Women Make the Best Salesmen, when she said men could learn from the natural social skills and acute emotional antennae women possess. Resort Brokers marketing manager Carla Cook, while not dealing at the sales coalface, applies her ‘feminine energy’ (to borrow the term used by Katrena Friel, author of Sex Sells) to creating powerful and persuasive advertising and marketing campaigns.

THE DEVLIN: MANAGEMENT RIGHTS IN GEELONG THAT MIRRORS ITS NAMESAKE BY PHIL PETCH - DIRECTOR – MOORABOOL HEIGHTS PTY LTD

Carla observes that selling can be a tough job because salespeople have to withstand their fair share of knock-backs. “Women are more sensitive and tend to take things personally. Maybe that’s one reason men have been more likely to choose the profession,” she says. “But women who can roll with the punches, and remember not to take things too personally, really excel because of their keen cognitive, listening and social skills. “Men might be seen as more confident and competitive but, in our experience, women have no trouble getting in touch with their masculine side – if that’s what it takes – to close a deal.” "For proof that man and women work well together and contribute complementary skills", Trudy says, "you only need look as far as the accommodation industry itself. The vast majority of motels and management rights across the country are run by husband and wife teams". “So the industry has always been way ahead of us, with so many women long holding equal sway as owners and operators.” END

Nestled in the heart of Geelong, the 1920s heritage building exudes a uniqueness and character that is unparalleled. This soon to be refurbished building, first constructed in 1926, has retained its original “Georgian Revival” exterior whilst serving as an anticipated four-anda-half-star home to 37 boutique Serviced Apartments and a manager’s residence. The management rights business is not only perfect for a manager who wants to set themselves apart from the rest, but also for one who wants to manage a business steeped in Geelong history and folklore, named after a man steeped in even more. Stuart Devlin was born in Geelong in October 1931. Later graduating from the then Gordon Junior Technical School,

Devlin would go on to become one of the city’s most successful sons and arguably the world’s greatest living silversmith. Devlin, now in his mid 80s, has designed coins and medals for more than 30 countries around the globe, including an array of valuable coins for the Sydney 2000 Olympic Games. His greatest claim to fame is designing Australia’s decimal currency in the 1960’s He has also made the medals for the Order of Australia, the Australian Bravery Decorations and the National Medal. Devlin moved to London in 1965 where he opened a small workshop and pioneered his distinctive style, soon making a famous name for himself in England where he still lives today. In 1982 Devlin was granted the Royal Warrant of Appointment as Goldsmith and Jeweller to Her Majesty the Queen. But while he now calls London home, Devlin would find himself inspired by the bountiful destination Geelong has become. Consisting of Deakin University, the new headquarters for the National Disability Scheme (NDIS) and the fabled heartbeat of the town, Kardinia Park, Geelong is more than just a place to live – it’s a city to aspire to. Management rights at the Devlin are being marketed by Jim Chapman of Resort Brokers. According to Jim “ I’ve been a big fan of the Geelong accommodation market for some time. When combined with the distinct market offering and quality of fitout, I can see 'The Devlin' being a great success for whoever acquires the management rights” END resortbrokers.com.au

Exclusive MR

Short term off the plan management rights in Victoria’s 2nd largest city This soon to be refurbished heritage building, first constructed in 1926, has retained its original Georgian Revival exterior whilst serving as an anticipated four-and-a-half-star complex of 37 boutique serviced apartments and a manager’s residence. Located in Geelong, Victoria’s largest regional city, The Devlin Apartments are close to the CBD and the recently redeveloped Simonds Stadium. With a capacity of 35,500 patrons the facility is the home base of the Geelong Aussie rules football club. As the only 4.5 star facility in Geelong (anticipated), it’s proximity to business, leisure, retail facilities and its accessibility to key tourism regions, means that The Devlin is well placed to capture a share of the corporate, leisure and tourist market. The Devlin will be converted into 28 (37 keys) boutique apartments encompassing three distinct architectural and designed styles; New York loft, contemporary and industrial chic. Each apartment style is represented by individually selected living and dining pieces, complemented by lavish soft furnishings and artwork, enhanced by distinctive lighting solutions.

Every detail has been taken care of from high quality appliances and bedding to multimedia solutions to private outdoor lounge areas. The manager’s apartment is situated at the rear of the reception/foyer. This one bedroom residence has been designed in the ‘contemporary’ style. It features a lounge, Miele kitchen and powder room (as well as a second toilet). Significant stamp duty concession available. • Will be the only 4.5 star rated establishment (anticipated) in this growing region of 300,000 people • Caretaking agreement (ten years with 4 x 10 year options) • All apartments in the letting pool • Anticipated completion date Nov 2015

Nett: $350,886

Price: $1,490,000 resortbrokers.com.au/management-rights-for-sale/OTP003579

Jim Chapman Broker Mobile. +61 413 444 782 Email. jimchapman@resortbrokers.com.au Melbourne Office. 03 9347 3100 28

resortbrokers.com.au

Are you buying or selling Caravan Parks, Motels, Management Rights or Hotels? David Burrough and his team are the most respected legal advisors for those about to buy or sell an accommodation business. Why not give them a call today?

T: (07) 3220 1144 E: email@hillhouse.com.au

www.hillhouse.com.au

Many thanks to Queensland Tourism for providing the image of Brisbane

Exclusive MR

Magnificent beach front property - Trinity Beach management rights On the Beach Holiday Apartments are located on the esplanade of Trinity Beach, directly adjacent to the beach. An exceptional location just 15 minutes north of Cairns International Airport. There are varying accommodation facilities, room types and views to be found within the group of seven properties. The owners have put systems in place to maximise operational efficiency. Current staff are able to provide management with complete cover when taking their biannual vacations. Selected office hours dependant on the seasons allow for down time to be utilised on other projects (marketing etc). The purchase includes the letting and caretaking rights to the seven individual buildings, each connected by paths and walkways through tropical, landscaped gardens and each offering private facilities. These all include swimming pools and BBQ area as well as secure undercover parking.

• Beachfront location with direct access to the beach • Includes the letting and caretaking rights to seven individual buildings • Choice of one, two and three bedroom apartments (garden view, ocean view and beachfront) • Breathtaking views of the ocean and lush tropical gardens. • Seven swimming pools and BBQ areas, tennis court and two outdoor spas • Located just 20 minutes from Cairns CBD and 40 mins to Port Douglas • All seven buildings under the one body corporate manager. • Two bedroom managers’ apartment with study/3rd bedroom and beachside location

Nett: $352,000

Price: $1,850,000 resortbrokers.com.au/management-rights-for-sale/MR003544

Shane Mullins Broker Mobile. +61 447 185 001 Email. shanemullins@resortbrokers.com.au Headoffice. 07 3878 3999 30

resortbrokers.com.au

EDITORIAL Transport yourself back 30 years, when Resort Brokers Australia was founded, and circumnavigating Australia would call for a car that could do the miles and a copy of the latest Star Ratings Australia (Formerly AAA), NRMA or RACQ accommodation guide. Fast forward to the present and those accommodation guides have been replaced by the smart phone and Trip Advisor is the new tool to investigate your nights’ accommodation. The realisation of online booking and rating platforms has contributed to a shift away from traditional rating systems in Australia such as the former AAA. Now don’t misinterpret this article – Star Ratings Australia, NRMA and RACQ still appear to have their place in the market. For example in a small town of only a few motels, hotels or caravan parks, the rating and referral systems can create market credibility, but careful considerations need to be made before signing up with a fixed rating system. A leading example is the report provided by some of the rating groups which require both the freehold (land) owner and the leasehold (business) owner to carry out repair or renovation work in order to preserve a certain rating. Rating groups have made the move to standardise their rating systems so the customer is presented with a room as described by a set rating standard. As a result, over the past 18 months, such reports have become increasing onerous and costly for both freehold and leasehold owners. What used to be, for example, a simple requirement to improve external landscaping, has readily become the replacement of bathroom tiles or plastering of exposed brick walls. Couple this with hefty fees associated with the traditional rating systems and it is not surprising that we have seen a sizeable shift away from traditional rating systems to popular self-rated accommodation. Free rating platform TripAdvisor.com has also dramatically influenced a reallocation of operator marketing budgets from the traditional rating organisations. Available marketing funds used to be spread across hardcopy brochures, rating group fees and accommodation guides. There now appears to be an increasing trend in allocating marketing dollars to a new integrated website, an online booking portal, social media advertising or pop up marketing with online aggregators. It is essential that you assess your accommodation business as a standalone operation and also as a business within the community to determine whether you will benefit from a formal rating or not. Some key points will also need to be considered: • Does my lease require me to maintain a star rating or can I self-rate? • Will self-rating affect my general and

STAR RATING VS

Self Rating:

EXPLAINING THE SHIFT

BY RYAN JOHNSTONE - PEVY LAWYERS corporate bookings? • Does my landlord share my opinion on star rating vs self-rating? • How will repairs and maintenance of the business be managed without a rating group providing a report? • Will your marketing budget need to increase if you intend to self-rate and where will funds be allocated? • Does my customer base book online and what improvements can be made to my business as seen in the digital world? Remember to consult your lawyer about the best way to formalise any changes to your lease (if necessary) once you’ve done the necessary market research. END Pevy Lawyers are leaders in the provision of legal services to the Australian accommodation industry. www.pevylawyers.com.au resortbrokers.com.au

Exclusive MR

We've run out of boxes to tick - Gold Coast permanent complex This delightful gated 54 unit complex has easy care gardens, pool and BBQ area, no set office hours, large office on title and storage galore. The recently refurbished manager’s residence is of a large open plan design, with a spacious private courtyard, three bedrooms and two bathrooms. The location is close to several golf courses, parks and recreational facilities. Robina Hospital (QLD Health’s new medical precinct), CBus Stadium and Robina train station and bus interchange are all in close proximity. You can also access Bond University, private and public schools and the M1 within minutes. Flanked by the Hinterland and gorgeous golden sands of the Gold Coast’s beaches, Robina has everything at your doorstep. The complex is well presented with a Mediterranean feel and attractive landscaping.

• Secure business with long term tenants • No set office hours • Lengthy caretaking / letting agreements • Opportunity to earn additional salary with works around the complex • Spacious modern manager’s residence • Low body corporate levies • Average rents $420 to $450 per week • Easy care gardens Exclusive to Resort Brokers Australia. Be quick this property has it all and won't last long!

Nett: $182,144

Price: $1,488,600 resortbrokers.com.au/management-rights-for-sale/MR003574

Jenny Sorenson Broker Mobile. +61 475 089 468 Email. jennysorenson@resortbrokers.com.au Headoffice. 07 3878 3999 32

resortbrokers.com.au

Exclusive LH

Riverina 4 star AAA motel with brand new 25 year lease - this is an absolute gem! Brand new 25 year lease in one of the great Riverina towns. This 26 room motel is an absolute gem as far as a turn key operation is concerned. The owners have left no stone unturned in respect to the presentation of this magnificent property. The property has an excellent mix of trade; from corporate clients to families and buses alike. The 70 seat restaurant and function centre facilities are spacious and specialise in corporate functions, weddings and general dinning. The venue is one of the areas great offerings. This property and business is ideal for the family as the residence is large and very well appointed. It is also adjacent to reception which makes for an easy work life balance.

• 26 x 4 star rooms • Repeat corporate clients • No significant out lay required all the improvements are done • Huge off street parking suitable for buses • Very well appointed kitchen servicing 70 seat restaurant • Conference facilities all in place adjacent to large bar area • Salt water pool amongst large yard and BBQ area

Nett: $294,155 projected 14/15

All rooms have free Wi-Fi and Foxtel supplied and the BBQ and pool area add to the relaxed atmosphere of this four star property.

Price: $545 000 resortbrokers.com.au/motels-for-sale/LH003586

Andrew Rendall Broker Mobile. +61 412 635 344 Email. andrewrendall@resortbrokers.com.au Sydney Office. 02 9904 8224 resortbrokers.com.au

Exclusive FH

Attractive motel in major provincial city Cardigan Lodge Motel is situated on the outskirts of Ballarat, one of Victoria’s largest provincial cities. Set on over 5000 square metres, this attractive 27 unit motel provides a wonderful opportunity for a motel operator to purchase a successful ‘freehold and business’ close to a major commercial centre with an extremely strong tourism market. The motel comprises 27 spacious suites, restaurant / function room, fully equipped commercial kitchen, games room, an inground pool and well maintained gardens throughout. There is also ample parking for coaches, trucks, trailers etc.

• Situated 10km from Ballarat • Perfect for coach tours and school groups • Restaurant/ function room • In-ground pool and games room • Substantial forward bookings

Nett: $194,885

Price: $1,275,000 resortbrokers.com.au/motels-for-sale/FH003622

Gerard Hurry Broker Mobile. +61 417 250 211

Melbourne Office. 03 9347 3100

Email. gerardhurry@resortbrokers.com.au

Exclusive MR

Active operators required for Brisbane corporate opportunity Seeking experienced managers to join with a team of investors and operate a large management rights building. Past experience required. Equity required. Exciting Brisbane corporate opportunity available today! • Salary / deal tailored based on previous experience • Great returns on your $$$ invested • Running larger complex affords you to have staff / a more supervisory role • Purchase into a significantly larger business than you could alone

• Opportunity for better growth of bottom line and capital gain in larger building • Looking for a new challenge?

Don’t wait any longer! Give Steve a call today to discuss in further detail!

Steve Campbell Broker Mobile. +61 407 220 668 Email. stevecampbell@resortbrokers.com.au 34

resortbrokers.com.au

Headoffice. 07 3878 3999

Exclusive MR

Two for the price of one Are you looking to buy a family business and involve the children? Why not buy two properties for the price of one? This combination consists of a larger permanent complex in Carrara and a smaller holiday complex in the heart of Mermaid Beach. The Carrrara complex consists of 80 townhouses with 50 in the letting pool and potentially more to be had - this property is well run and earns a good steady income. The Mermaid Beach property has minimal units in the letting pool and very few caretaking duties, this property represents an opportunity to grow the business or leave as is and enjoy the income it currently derives.

With no official office hours in either complex your work load is up to you. • Two body corporate salaries = $108,000 • 4.6X multiplier for both

Nett: $185,000

Price: $1,445,000 resortbrokers.com.au/management-rights-for-sale/MR003619

Carolyn Griffith Broker Mobile. +61 419 675 429

Headoffice. 07 3878 3999

Email. carolyngriffith@resortbrokers.com.au

Exclusive LH

Tasmania seaside money maker - impressive 38.5% return Situated on the North West coast of Tasmania in the area's major regional town, this accommodation gem has proven to be a little goldmine over its long established lifetime and offers the purchaser a great lifestyle as well as a substantial bottom line. The motel accommodation consists of 11 x one and two bedroom units and 16 cabins. The caravan park is the only one in the city with 37 power sites and tents sites and a backpackers bunkhouse. The property boasts an excellent manager's accommodation - a two bedroom, two bathroom house with office, lounge and kitchen / dining. The reception adjoins the house for ease of operation.

• Guests’ facilities include a heated pool, guest lounge, DVD and book library and free WiFi • Sold with a 25 year lease with market rent • Offered with an impressive 38.5% net return

Nett: $286,849

Price: $745,000 resortbrokers.com.au/motels-for-sale/LH003322

Jim Chapman Broker Mobile. +61 413 444 782

Melbourne Office. 03 9347 3100

Email. jimchapman@resortbrokers.com.au resortbrokers.com.au

EDITORIAL In looking back over the last 30 years, we found some examples of momentous change and dramatic progress. But we also found instances where the old proverb rang true: the more things change, the more they stay the same. When Resort Brokers launched, it was into a world without mobile phones, the Internet or even CDs. Not that these technologies didn’t exist. They just weren’t generally accessible to consumers yet. Analog cell phone systems were first used in Tokyo in 1979, but Australia didn’t get the call until 1987. The Internet had its genesis in the US in the 1960s, but we didn’t establish our first fragile link ‘til 1989. And, although Sony launched the first consumer CD player in Japan in 1982, the cassette tape remained our format of choice for most of the 1980s. On the business front, opportunity was knocking loudly in the mid 80s. In the tourism arena, the period seems to have marked a watershed – official recognition by the Federal Government of the significant contribution the tourism industry was making to economic growth and employment. A 1985 Year Book of Australia article (Australian Bureau of Statistics), Tourism in Australia, cites a Bureau of Industry Economics study that concluded tourism “warranted more recognition as a growth industry.” (Sound familiar?) The study estimated tourism then contributed 4.8% to Australia’s GDP and was responsible for employing 340,000 people or 5.2% of the workforce. Those figures actually turn out to be 36

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Now & Then... WE LOOK AT HOW FAR WE’VE COME

WHAT WERE YOU DOING IN 1985? ALRIGHT, SO SOME OF YOU WEREN’T AROUND. OR AT LEAST WERE STILL MORE INTERESTED IN COMICS THAN ECONOMICS. BUT MANY OF US DO REMEMBER. IT WAS THE YEAR MADONNA TOPPED THE CHARTS, BACK TO THE FUTURE WAS ON THE BIG SCREEN … AND RESORT BROKERS AUSTRALIA OPENED ITS DOORS. BY CATIE LANGDON very impressive when compared to today’s position. Although the numbers have swelled substantially in 30 years, the industry’s contribution to the economy is smaller, presumably because other sectors have grown at a greater rate. In 2013-14, the tourism industry contributed $43.4 billion to the Australian economy, representing 2.7 % of total GDP. And it now employs 534,000 people, which is 4.6% of the workforce. The Commonwealth Department of Sport, Recreation and Tourism was first created in 1983, in recognition of the importance of tourism, and the government’s role in supporting the industry. Three decades later, many in our industry lament the fact that the current departmental line-up doesn’t include a specific tourism portfolio. It’s been subsumed

by Foreign Affairs and Trade. The first ever National Tourism Awards were presented in September 1984. Heroes of the day when Resort Brokers started out were Paul Hogan, for his part in the much publicised “shrimp on the barbie” campaign in the US, and Alan Bond for the awareness of Australia created by his Americas’ Cup yachting victory. In 1985, Australia was on the cusp of a prolific period of tourism development. The ABS Year Book valued the pipeline then at $7,066 million, including 16 new international hotels. Landmark projects underway included the Intercontinental in Sydney, Menzies and Hyatt in Melbourne, and the Paradise Centre and Jupiter’s Casino on the Gold Coast. It was the start of a development wave that would result in ambitious undertakings like Sanctuary Cove and the Sheraton Mirage Gold Coast and Port Douglas developments.

The lives of their brash creators, Mike Gore and Christopher Skase, may have ended in ignominy, but their impressive tourism legacies live on. For a fledgling Resort Brokers Australia, the future looked bright. Founder and managing director Ian Crooks had moved from New Zealand for the greater opportunities Australia promised. And he did so with an ace up his sleeve. Across the ditch, Crooks had specialised for some years in accommodation property sales. There, motel leases were common practice. But here, the concept was non-existent. Armed with a lucrative new business model for accommodation owners and operators,

1985 2015

and the drive to succeed, he would pioneer motel leasing and build Australia’s largest specialist motel broking house. Though few can imagine it now, his 1985 tools of the trade were limited to a car, in which to cover an average 2,000 kilometres a week, a dictaphone for note-taking and correspondence, a pager, fax machine, and network of roadside public phone boxes. In the mid-80s, a total of 54 million domestic trips were recorded per annum. Fewer than one million international visitors came to Australia in a 12-month period, and 1.25 million Aussie residents departed for an overseas trip. Now, we record more than 300 million domestic trips in a year, 6.3 million international visitors per annum come here, and 8 million Australians head overseas in a year. These days, the tourism investment pipeline is worth around $50 billion (latest figures 2013, Tourism Research Australia), including 12,000 expected new accommodation rooms, representing $7.4 billion. Tourism remains vital to our economy. Despite the lack of a dedicated Commonwealth department, the recognition that started in the mid-80s has been reaffirmed with the industry widely proclaimed as one of the economic pillars that will position Australia for future prosperity. Some fundamental characteristics haven’t changed: tourism is highly labour intensive (a big employer), requires input from many service providers to deliver products (a business catalyst), is dominated by a vast number of small businesses, and operates in a highly complex and competitive environment. As Resort Brokers Australia marks its 30th anniversary year, Australia has just achieved record expenditure of $30 billion (up 7%) by international visitors in 2013-14, and $72 billion (up 3%) by domestic travellers. It puts us well on track to achieve tourism’s 2020 target of $115 billion in overnight expenditure. This company has also just achieved a record business year, handling 174 property and business sales nationwide in 2014. We too are on track for a bright future. END

IN CHARGE

• Bob Hawke (Aust), Ronald Reagan (US), Margaret Thatcher (UK), Mikhail Gorbachev (USSR/Russia)

IN THE NEWS

• Rainbow Warrior sunk by French agents in Auckland Harbour • The spread of AIDS, blood donation screening begins • Uluru handed over to the Aboriginal people • Anti-apartheid riots and protests continue in South African Townships • Live Aid concerts worldwide raise millions to combat famine in Africa • 8.1 Richter scale earthquake in Mexico City kills more than 9,000 people

LISTENING

• “We Are The World” – USA for Africa (No. 1) • “Angel” – Madonna (No. 2) • “Crazy for You” – Madonna (No. 3) • “Live It Up” – Mental As Anything (Top Australian single)

WATCHING

• Back to the Future • Rambo: First Blood Part II • Rocky IV • The Colour Purple

BUSINESS

• Capital Gains Tax introduced in Australia • First .com registered • First version of Windows (1.0) released by Microsoft

SPORT

• What a Nuisance wins the Melbourne Cup • Boris Becker is the youngest ever to win Wimbledon, aged 17 • First Australian F1 Grand Prix is held on the streets of Adelaide • NSW wins its first Rugby League State of Origin (Qld won the first 2 series) • Essendon beats Hawthorn to win the (then) VFL premiership • NZ downs Australia (10-9) in that year’s single Rugby Bledisloe Cup match

COSTS 1985

2015

15.9 MILLION

23.75 MILLION

AVERAGE FULL-TIME WEEKLY WAGE (ADULT)

$377.50 ($1,019 AT 2015

$1,453.90 (2014)

UNION MEMBERSHIP RATE

45.6% (1986)

17% (2013)

WORKING DAYS LOST THROUGH STRIKES

54 / 1000 WORKERS

8.7 / 1000 WORKERS

VEHICLES ON THE ROAD

9.118 MILLION

17.6 MILLION

ROAD TOLL

2,941

1,155 (2014)

WORKERS WITH BACHELOR DEGREE OR HIGHER

9.6%

25%

POPULATION

IN 1985...

VALUE ADJUSTED FOR INFLATION)

• Litre of milk: $0.70 • Loaf of bread: $0.93 • Petrol (super): $0.53 per litre • House Capital city median range $52,050 (Perth) - $90,625 (Canberra) • Beer:$0.91 for a 285ml glass of full strength draught

Source: Australian Bureau of Statistics (ABS)

resortbrokers.com.au

Exclusive FH

Fabulous freehold motel that services the busy Canberra market Exclusive to Resort Brokers Australia is this wonderful property located in the busy regional city of Queanbeyan, in close proximity to the nation’s capital and the ever popular shopping precinct and factory outlets. This 30 room motel has a prominent highway position and can cater for large bus groups and tourist groups. It is located near Canberra Airport and 15 minutes from Canberra CBD. The current freehold owners have carried out extensive refurbishments to the motel rooms including new carpets, a fresh coat of paint (including some tastefully coloured feature walls hosting modern wall art pieces). The bathrooms have also been refurbished to transcend a modern fresh feel throughout the motel.

One of the best freehold opportunities in a large tightly held regional centre. • Three bedroom residence • Recently refurbished 30 unit motel less than 15mins to Canberra • AAA 3.5 star rating • High profile main road location • Swimming pool, sauna and spa • Restaurant only used internally for breakfast and catering for large groups. The new owners have all inventory available to operate a fully functional restaurant facility - option to self operate or lease out

Now the cosmetic work has been done, all that is left is for the new owners is to add their marketing pizzazz and boost the bottom line with an increase in occupancy. There is also the future possibility to split the motel, sell off the leasehold and retain a great Investment property.

Nett: $299,980

Price: $2,650,000 resortbrokers.com.au/motels-for-sale/FH003480

Russell Rogers Broker Mobile. +61 416 166 909 Email. russellrogers@resortbrokers.com.au Sydney Office. 02 9904 8224 38

resortbrokers.com.au

Exclusive SA

Brisbane’s newest corporate accommodation property - 4.5 star serviced apartments Resort Brokers are excited to offer to the market the latest franchise offering from Quest Serviced Apartments, Australia’s largest and fastest growing serviced apartment brand. The new owner will benefit from the extensive training and support provided through Quest’s business format franchise system, developed over 25 years in the industry. The business will consist of a total of 85 keys, split over a 50 apartments. These apartments will be made up of a mix of studios, one bedroom, two bedroom and three bedroom apartments, providing the operator with a large degree of flexibility to adapt to market demand. On site facilities include conference centre, pool, gym, lounge and BBQ area. Quest Kelvin Grove will be situated at 41 Ramsgate Avenue, a great location to attract a variety of guests. In close proximity to the property is the exciting master-planned Urban Village development (home to several corporate HQ’s), a QUT campus and the Royal Brisbane Hospital. Brisbane CBD and Airport are also within easy reach.

• All apartments have fully fitted kitchens, bathrooms, laundry facilities (not studios), separate living/dining areas, internet access, DVD, stereo and quality furniture and fittings • New 28 year lease with initial rent free period • Total of 85 keys over 50 apartments – mix of studios, one, two and three bedrooms • Ground floor conferencing centre with adjoining kitchen and break-out area • Part of the Quest Serviced Apartment franchise group – extensive training and support provided • Great and rare opportunity to build a short-term accommodation business from scratch

Nett: On application

Price: $1,880,000 ($180k EBI) resortbrokers.com.au/management-rights-for-sale/OTP003543

Alex Cook Broker Mobile. +61 467 600 610 Email. alexcook@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

EDITORIAL

CONTINUING OUR SERIES PROFILING THE MANY FACES OF AUSTRALIAN TOURISM AND ACCOMMODATION, WE INTRODUCE YOU TO THE LEADERS AND INNOVATORS, CHARACTERS AND CANNY OPERATORS OF OUR INDUSTRY. THESE ARE THEIR STORIES.

THE MANY FACES OF THE TOURISM INDUSTRY

Ian Crooks:

WORK HARD, INNOVATE, PERSEVERE ASKED FOR WORDS TO DESCRIBE IAN CROOKS, THOSE WHO KNOW HIM WILL ALMOST ALWAYS COME UP WITH ‘ENTHUSIASTIC’ AND ‘ENERGETIC’. THESE ARE THE SIGNATURE CHARACTERISTICS OF AN INDUSTRY VETERAN WHO REVOLUTIONISED MOTEL INVESTMENT IN AUSTRALIA AND BUILT A MARKET-LEADING AGENCY DEDICATED TO TOURISM AND ACCOMMODATION PROPERTY. BY CATIE LANGDON If you know the ebullient Resort Brokers Australia managing director a little better, other words might also spring to mind: assiduous, inventive, tenacious. His easygoing manner belies a steely determination, incredible work ethic, and never-say-die attitude. This year, as he marks 30 years since ‘crossing the ditch’ to hang out the Resort Brokers shingle, Ian Crooks can be well satisfied with his achievements. Not that his journey hasn’t included a knock-back or two. But this indomitable ‘glass-half-full’ sales dynamo always focuses on the upside. It was Ian’s keen eye for opportunity that brought him to Australia from New Zealand 40

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in 1985. Earlier, he had worked in stock and station agencies, established a successful motel brokerage, Chevron Real Estate based in Tauranga, and owned and operated a few motels with wife Karin. “Motel leasing was accepted practice in New Zealand,” Ian recalls. “In the eighties, lots of Kiwis were shifting to Australia for better opportunities and warmer weather. The two countries’ economies were the opposite then. Things in New Zealand were tight, while Australia was going great guns.” Ian’s interest was piqued when operators he had sold out of motels were complaining they couldn’t buy motel leases in Australia. Leases simply didn’t exist. “One day in 1984, I told Karin I’d love to go to Australia for a year, to set up motel leasing,” he says. She agreed on one condition: “as long as it is only for a year.” Famous last words! “At the time, we had a trip planned to take the kids to Europe because Karin is of Dutch heritage. So we spent four moths over there but, the whole time, I just couldn’t wait to get back to Australia to get started.” By the time they arrived on September 29, 1985, Ian had lined everything up in readiness, even the name Resort Brokers Australia. “Well I could hardly call it Crooks Real Estate, could I?” he jokes. The family settled in Brisbane and Karin’s year turned into five … 10 … 20 … no turning back. “We had three little girls under 10, and they settled into school. We made great friends who were very welcoming. We loved their company, the weather and the lifestyle.” In the end, Karin’s brothers and mother settled here too. Business went well, thanks to Ian’s relentless effort and discipline. A typical day would start at 4am with a one-hour run, then he’d record correspondence on a dictaphone, leave home at 6am, and drop the tapes at a typing service before hitting the road. In the evening, he’d pick up from the typists’ after-hours box and, after a quick dinner with the family, it was on to the phone. Every night from 7pm to 9pm, Sunday to Thursday without fail, nonstop calls, building his incredible network of contacts. “I remember looking at pages of motel ads in the newspaper and wondering how on earth I would break into the industry,” Ian says. What he did was drive 2000 kilometres a week, knocking on just about every motel door across Queensland and most of NSW. “I knew virtually every motel. Someone would mention a town and I could tell them all the motels there, how many rooms they had, how big the manager’s residence was. I gathered every bit of information I could and memorised it.” Ian’s exhaustive knowledge was one thing, but it wasn’t all that set him apart. He applied the same meticulous approach to his goal of introducing motel leases to Australia. “We had motel leases in New Zealand, but there were no formulas for setting them up and pegging values. Before I came to Australia,

I gathered all the motel P&Ls I could lay my hands on. I studied and compared hundreds of them to calculate some sort of industry average operating costs. Even 30 years later, I can say with confidence, the formulas I arrived at still work perfectly.” He vividly remembers the first motel lease he set up, the 17-unit Mary Ellen Motel, in Ipswich, just west of Brisbane. Today, thanks largely to Ian Crooks, more than 70 per cent of

Australia’s motels are split into active leasehold and passive freehold investment components. He credits a number of people with having a hand in his success. First among them was lawyer and former Wallaby David L’Estrange, who Ian met early on through his involvement in Rugby. “David was without a doubt the foremost legal expert on motels at the time,” Ian says. “We became great friends and colleagues.”

Later, after L’Estrange retired, that baton was picked up by David Burrough, who Ian now describes as the most experienced motel solicitor in the country, endorsed and recommended by the Accommodation Association of Australia (AAoA). Briefly in the early 1990s, Ian took leave from Resort Brokers to join Colliers as an international hotel consultant. There he worked with three men he says went on to be among the industry’s most influential internationally. They were Bill Cross, now based in London, Peter Barge, who rose to be Jones Lang LaSalle (JLL) CEO for Asia Pacific and is the current Chairman of JLL Hotels, and Stephen Burt, a one-time CEO of Mirvac Hotel Group who is back at Colliers International as Managing Director, Hotels, Asia Pacific. “After a while, those three left Colliers and started TransAct, which later merged with Jones Lang Wooton International Hotels Division to form JLW TransAct. It dominated the Australian hotel investment market during the South East Asian investment wave,” Ian recalls. “They asked me to go with them, and perhaps I should have. I stayed with Colliers, only to have them close the hotels division from under me,” he says, still with some rancour. But, in typical Crooks fashion, he dusted himself off, and revived Resort Brokers without missing a beat. “Fortunately, no-one had picked up the ball in the motels sector. I still remember my first sale when I fired back up. It was 60 miles from my door to that motel and I did the trip 35 or

40 times. When I sold it, I made more on that one deal than my entire previous year’s salary at Colliers.” From there, Resort Brokers flourished, boosted by a round of redundancies in the corporate world. Retrenched executives with substantial lump sum payouts became keen motel buyers. Ian was soon employing several sales people and admin staff. They graduated first to small premises in Indooroopilly, Brisbane, then to take up half a floor in a nearby office tower. Now the nation’s acknowledged motel specialists, Resort Brokers was soon in demand across the accommodation spectrum – management rights, hotels, caravan parks, B&Bs and backpackers too. “When it was suggested we sell management rights, I was initially unsure, given the lower returns compared to motel leases,” Ian recalls. “But we found a vast pool of people from New Zealand and throughout Australia eager to take up opportunities and live between Coolangatta and Noosa, where they were concentrated. Management rights were a real revelation to me and now they represent 50 per cent of our business.” Ian also came to appreciate some aspects of his stint with Colliers, notably lessons in corporate practices, budgeting, and staff training. “In the early days, our training approach was for rookies to spend a week on the road with me, calling on maybe six to eight motels a day. I used to pay to do seminars and training courses myself, and come home absolutely resortbrokers.com.au

EDITORIAL

exhausted because I concentrated so hard. I expected everyone to do the same. My approach was ‘watch and learn’. Now, of course, Resort Brokers conducts formal staff induction and training.” Resort Brokers Australia, in its 30th year, is stronger than ever, Ian says. But he does admit to a couple of “financial reversals” along the way, thanks to some brutal market downturns. True to form, though, he bounces back. “I have always managed to stay optimistic. In business, you always have setbacks, so being able to recover quickly is a valuable skill. I always tell our new recruits how important it is to keep looking forward and not take the knocks too personally.” Ian is at pains to say he would be nowhere without Karin. “She is always unbelievably supportive and is very influential, despite threatening to throw my mobile phone out occasionally. Karin really brought the children up while I was away so much.” Now those children, long past childhood and with some significant career achievements of their own, have joined Resort Brokers to help take the company to the next level. So, what has 30 years at the helm taught Ian Crooks? What distinguishes the company now? “We’ve come a long way since the days when I carried my notebook and book of

BEST WESTERN Drouin Motor Inn Drouin, VIC

contacts everywhere. Now it’s iPads and databases - though I still keep my contact book with me. I can’t believe how technology has advanced. Newspaper advertising used to be the only medium, now we primarily use the Internet and our Informer magazine to drive our business. Systems support everything we do. “In terms of sales, we now turn down probably four out of 10 listings we are offered, because we know the market and what is needed to successfully take a business or property to market,” he says. “And probably one of the most exciting aspects of our business is the collaborative culture we have developed. “Our people collaborate rather than compete. It is not easy to engender, but it is very powerful and it sets Resort Brokers apart. Two people working together can do the work of three. About 50 per cent of our sales are now in-house conjunctions,” Ian reveals. “We have built our business on the back of motels, management rights and caravan parks, and are now increasingly working in the specialist boutique hotel sector” Ian still puts great store in the qualities that have driven his entire working life: hard work, willingness to take a calculated risk, the ability to learn from your mistakes, and to think outside the box. “There’s always more than one way to do a deal.” No story about Ian Crooks would be complete without highlighting his passion for Rugby. Even after 30 years in Australia, he still proudly supports the All Blacks. He’s

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Three hotel types. One brand. Experience the difference. info@bestwesternaustralia.com.au AUSTRALIA | NEW ZEALAND | FIJI

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at every Bledisloe Cup match, here and in New Zealand. And, having attended the last two World Cups, you can guess where he’ll be come this September. So what does the future hold for Ian Crooks? “I’m still working at a mad pace, but we love relaxing on the Gold Coast and in Bali when we can, and I’m keeping fit by cycling and swimming. “On the business front, I’ve worked with a lot of great brokers over 30 years at Resort Brokers, some of the best in the industry, and some skilled and generous professionals including accountants, bankers, financiers and valuers. I’m very grateful because you can learn a lot from the different strengths of others. “I couldn’t be happier to now have the perfect business succession plan, with Trudy, Carla and her husband Alex, and Tim in such vital roles. And, our team now represents the best we’ve ever had, with the ideal mix of proven industry experience and energetic younger brokers keen to work hard to be successful. “We have the strategies and expertise to really take Resort Brokers forward and a clear vision of where we are headed.” After all, Ian says, accommodation properties remain very strong investments. “The motel business is still outstanding. If you were able to borrow 100 per cent to buy one, you could pay it off in 10 years and still enjoy a very comfortable lifestyle along the way. Management rights are no different. “That’s the essence of what we do – help people to enjoy a great lifestyle and financial security through the accommodation industry.” END

BEST WESTERN PREMIER Terrace Hotel Perth, WA

Exclusive FH

Australian award winning eco lodge in beautiful North Queensland This stunning cabin resort is a very exclusive, multi award winning and eco friendly family retreat. It was voted 'Best Hosted Accommodation in Australia' at the Qantas Australian Tourism Awards in 2010. The property is located on the Western slope of the Paluma Range, near Running River, approximately 1.5 hours from Townsville, the largest city in Northern Australia. The resort offers a wide range of activities. These include Platypus and nocturnal tours. Hidden Valley Cabins was voted one of the best spots to see a Platypus in the wild by Australian Geographic. The resort owners have made a passionate commitment to environmental sustainability. It boasts its own 11.7 Kw Solar Power System. This runs the entire facility and attracts visitors to the interpretative centre that the owners have developed to explain renewable energy. The business has incredibly low running costs, currently operating for under $50 per day.

After 28 years in the business, the current owners are looking to move on and are offering the property well below replacement cost, giving great opportunity and upside to new operators. • All licences in place including a general liquor licence, food licence, National Park permits from Townsville to Cairns and water licences • Very low running costs of $50 per day • Strong forward bookings • Extra land to expand the business • Only business of its kind outside of the largest city in Northern Australia • Three bedroom, two bathroom residence included

Nett: $169,750 adjusted

Price: $1,600,000 neg resortbrokers.com.au/motels-for-sale/FH003545

Des Fagg Broker Mobile. +61 427 849 119 Email. desfagg@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

GREAT TO SEE THE MANAGEMENT RIGHTS MODEL WORKING WELL BY JOHN MAHONEY - MAHONEY LAWYERS A relaxing weekend in a well-managed beachfront holiday complex on the Gold has reinforced to me how successful the management rights model can be and why it provides so many positives for unit owners and holiday makers throughout Australia. Our annual family reunion (comprising some 40 or so family members of 3 generations) was spent this year at the Sanctuary Beach Resort at Currumbin on the southern end of the Gold Coast. Arranging a booking for so many people is never an easy task but onsite manager Garry Layton went out of his way to make sure that 44

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we were grouped together in the most appropriate apartments depending on the needs of the various families. On arrival the complex was exceptionally clean and tidy – lush green gardens, wellmanicured lawns, sparkling pool, fresh clean apartments and an enthusiastic onsite manager seemingly keen to make our stay as enjoyable as possible. Happy to assist if someone locked their keys in their apartment or needed assistance with something. The kind of place where you think “Yeah, this is the kind of place I will come back to”. After the experiences at work where of late there have been a number of quite hostile disputes between managers and owners, it was reassuring to see just how good management rights can and should be. On reflecting not just on the weekend itself, but on the many successful management rights operators I have seen over the years, and regularly witness, there are a few common features that these successful operators share: • An obvious pride in the presentation of the complex; • An understanding that owners and bodies corporates are entitled to expect value for the remuneration they pay their manager; • A firm but diplomatic and consultative

approach to dealing with owners and the committee. I am not saying that these features alone will guarantee success as there will of course always be committee members who will never be happy with their manager no matter what sort of job the manager does. A competent and confident manager can usually deal with those sort of people but they can make life very difficult for a manager unsure of how to handle the situation. Unfortunately for our industry though, too many new managers fail to appreciate the importance of the first two of these three features. Owner occupiers rightly expect their complex to be kept up to a reasonable standard, after all it is their home and generally speaking a large component of their body corporate levies is going towards the payment of the onsite manager’s remuneration. Newcomers to the industry have to realise that despite what the outgoing manager or the selling agent might say (and unfortunately there are some inexperienced agents out there who are not too careful about what they say), all management rights do involve some degree of hard work. No one is going to pay you a substantial amount of money to do nothing or very little – owners are entitled to expect value for money. If you provide that then you expect few if any problems. It is pleasing to experience yet another complex where the management rights model is working well. I have no doubt that owners of apartments are proud of the way their complex is presented and content that they are achieving real value for money from their onsite manager. Their homes and their investments are in good hands. END

Exclusive LH

Highest ranked property in busy Bright – new 30 year lease! On offer is the leasehold business of a stylishly refurbished 24 room motel in the tourist town of Bright, North East Victoria. The property is highly regarded in the tourism industry on both a local and state level, winning many Victorian Tourism Awards and ranking number 1 on TripAdvisor. This property is well established with reliable long term operators and strong local industry support.

• Brand new 30 year lease with a 25% return • Recently renovated three bedroom managers residence off reception • Restaurant, inground pool, BBQ area, tennis court and ample parking • Experienced freehold owner and below market rental

Nett: $145,793

This beautifully presented motel is well worth an inspection and offers a 30 year lease with a competitive rental. Bright is a year round destination for the tourism, coach and cycling market.

Price: $580,000 resortbrokers.com.au/motels-for-sale/LH003629

Liz Galea Broker Mobile. +61 417 334 298

Melbourne Office. 03 9347 3100

Email. lizgalea@resortbrokers.com.au

Exclusive LH

A great retirement opportunity - only $99.5K at 62% return This small property consists of 11 one bedroom suites built close to the CBD of Emerald on a beautifully landscaped flat site. Each of the 11 suites are identical with a lounge/dining area, separate kitchen, bathroom (with spa) and laundry facilities. Used traditionally by long staying guests, this easily run operation is being sold based on the last 12 months of trading. With 20 years on the lease and easily operated by one person - this is the greatest opportunity we have seen in a long time. The nett profit is in excess of $62,000 p.a. after rent and all operating costs.

Imagine residing in the front apartment and quietly operating a small business that provides free living and in excess of $5,000 per month nett. • Only 6 years old • A spa bath in ensuite • Off main road location • Separate office/reception area

Nett: $62,500

Price: $99,500 resortbrokers.com.au/motels-for-sale/LH003632

Ian Crooks Broker Mobile. +61 411 171 648

Headoffice. 07 3878 3999

Email. iancrooks@resortbrokers.com.au resortbrokers.com.au

Exclusive FH

Waterfront boutique lease in Mid North Coast of NSW An exceptional 61 room leasehold on the banks of the beautiful Hastings River. A breathtaking reception entrance which continues to improve as you walk through to the resort style facilities to watch the sun set on the Water’s Edge! A fabulous property with 80% occupancy and unrivalled corporate clientele. T his is your chance to benefit from a recent $1m spend in capital expenditure. The property boasts a resort pool, cabana bar and large deck overlooking the water’s edge. It has superb conference, wedding, function and boutique restaurant facilities.

• 61 room renovated corporate style accommodation • Absolute waterfront location only walking distance from CBD • Rare high net profit opportunity • DA approval for six additional rooms

Nett: $630,038

Price: $2,250,000 resortbrokers.com.au/motels-for-sale/LH003560

James Carrick Broker

rtist Impression

Mobile. +61 400 664 065

terior | South East of Fairweather Crescent

Sydney Office. 02 9904 8224

Email. jamescarrick@resortbrokers.com.au

Exclusive MR

Caretaking only MR business with 29% return DISCLAIMER

1 8 8981 0299 o@gwelodevelopments.com.au

PO Box 2816 Darwin NT 0801 1/26 Knuckey Street Darwin NT 0800

This document and all its contents are for information purposes only and is subject to change without notice at any time. Illustrations, images, plans, statements, figures, calculations and representations in this material are depictions, impressions or estimates and are for presentation purposes only. Whilst this material has been prepared with all reasonable care no warranty is given as to the accuracy, currency or completeness of the information contained within it and it is not intended to be relied upon in any way. The Developer and its related companies and their consultants and agencies accept no responsibility for any of the information contained in this material or for any action or omission taken in reliance upon it by any party including any purchaser or potential purchaser. Furniture is for illustration only and is not included in units.

www.gwelodevelopments.com.au

On offer are two brand new unit developments side by side only three minutes from Palmerston and approximately 25 minute drive from Darwin, in the Northern Territory. No need to purchase real estate and no letting! However, the majority of units have been sold to investors so there is an opportunity to set up a letting business. There are 134 one and two bedroom apartments in total. 60 of those units have been leased to NT government for 10 years (plus five year option). These properties are managed by the government thus reducing the caretaking workload significantly. Settlement for all units is due by the end of May 2015.

Can be financed on $250,000 cash or equity and the workload is anticipated to be 2-3 days per week. • Only a short walk to the Coolalinga Shopping Centre (currently under construction) featuring Coles and K Mart • Architecturally designed complexes set in landscaped surrounds

Nett: $145,200

Price: $500,000 resortbrokers.com.au/management-rights-for-sale/MRC003639

Ian Crooks Broker Mobile. +61 411 171 648 Email. iancrooks@resortbrokers.com.au 46

resortbrokers.com.au

Headoffice. 07 3878 3999

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PUT THE DANCING GIRLS ON HOLD WHILE I BEAT AROUND

The Bush

BY MIKE O'CONNOR

Anniversaries are wonderful things for they remind us of how far we have travelled and how much we have achieved. That is, of course, unless it happens to be the anniversary of your birth. If it’s the anniversary of the founding of a company, and this year marks the 30th anniversary of the founding of Resort Brokers Australia, then bring on the dancing girls and open more champagne. If it’s your birthday, or more particularly that one which marks you officially as being a "senior’’, then you may find yourself more reticent to leap onto the nearest table and proclaim the news to the world. This I know because in a couple of months I will cross that great divide and having perfected the art of denial decades ago, find myself reluctant to surrender to reality. My generation, the baby boomers, was never going to get old, not like our parents. It wasn’t in the script. We would continue to flit, Peter Panlike, around the planet with never a thought given to the passage of time. 48

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I remember when my late father reached what was then the compulsory retiring age. I went to his send-off and I remember thinking that he looked old. Now suddenly I find myself gazing into the mirror and wondering if I look the same. I also find myself gazing into the refrigerator and staring blankly at its contents as if in a trance with not the faintest idea as to why I opened its door. Is this what happens when a baby boomer reaches a certain age? I mentioned it to my doctor who told me that I was not to worry but if I found myself staring at the fridge and wondering just what it was that a fridge did, then I should call him immediately. I console myself with the thought that I’ve got more hair than my father had when he was the same age. That’s got to be worth something. Okay, so not a lot more and the average bowling ball has more than Dad did at my age but I’m still ahead, so to speak, on the follicle count. And I exercise. Dad’s idea of exercise was to walk up to the local TAB to place his bets. I’m also more childish. I developed the theory 30 years ago that the world was suffering from an over-supply of serious people. Accordingly, I have refused to take life too seriously which while infuriating some, has seen me smiling a lot more often than frowning, which has to be a good thing. I may occasionally forget why I go to the fridge but I can remember clearly events which took place decades ago. On the last anniversary of Neil Armstrong’s moon landing I said to my wife

EDITORIAL that I remembered in vivid detail watching it on a grainy black and white television set in the bank where I was working at the time. "What were you doing?’’ I asked her, forgetting for a moment the disparity in our ages. "I don’t really recall,’’ she said. "I was in Grade three at primary school at the time.’’ "Oh’’ I said. "Which reminds me,’’ she continued. "It won’t be too long before you’ll be eligible for the pension.’’ "Very funny,’’ I said. "I’m not quite ready for a walking frame yet. How’s your hip?’’ The hip has become a sore point, literally and figuratively. I am not what could be described as athletic as opposed to my wife who once played competitive hockey and was known to run the odd half marathon. The only competitive running I ever did was in the school cross country in which I came third by hiding in some bushes on the first lap of the course, re-emerging and rejoining the field on the third and final lap with an impressive burst of speed. "Wear and tear’’ said the doctor when

she finally limped along to the surgery for a consultation. "It’s all that sport you played when you were younger." "Shall I get a wheelchair?" I asked as we left the surgery. "Get stuffed," she said with feeling. So the anniversary of my birth approaches like the steady beat of a distant drum. How best to survive it? In my father’s day it was preordained. You suddenly stopped working after a lifetime of toil, took the wife on a European coach tour, usually with another couple, came home and joined a bowls club. My wife says she’s too young to retire so I’ve decided to emulate my cross country strategy, hiding in the figurative bushes and refusing to celebrate another birthday until she catches up with me. We then head to the airport and spend the next 30 years travelling the world and burning our way through the kids’ inheritance. When we return, aged 95, I’ll join a bowls club. END

IT'S GOOD TO BE HOME BY MIKE PHIPPS - MIKE PHIPPS FINANCE Welcome to 2015 and I trust all our Informer readers had a safe and happy Christmas and New Year. The Phipps family gathered in Noosa for the first time since we moved here 23 years ago and managed to get through the festive season without killing each other. A minor miracle as I am sure many of you will identify with. The managing director and I escaped the frivolity after Boxing Day and headed for Sydney with wining, dining and fireworks on the agenda. If you have never been to our world famous harbour for New Years, I

really recommend you put it on the bucket list. People from all over the world converge on the place and the atmosphere is really something. Talking to visitors from across the globe it's amazing how many are fulfilling a life time dream. There is a great vibe and everyone seems to be in a good mood. It's hard to imagine that only a short time before, Sydney had been the focus of much sadness. Certainly paying our respects at Martin Place was very sobering, although it's also somewhat life affirming to see so many divergent cultures and races in the same place showing the same respect. After four days in the city we headed up to Katoomba for the weekend. Again, if you have never been you should put this one on the list as well. I visited the Grand Canyon last year and thought it was pretty special. The Blue Mountains are, in my humble opinion, every bit as awe inspiring as the big ditch in Nevada. If you go there, take the road less travelled to Pulpit Rock, walk out to the last lookout ledge and take it all in. Absolutely breathtaking ! It doesn't hurt that Katoomba is a lovely little town with exceptional accommodation options and some great dining. The walking and climbing activities are excellent as well, although not so much for the fearful of heights. Talking to the accommodation providers we stayed with in hotels, motels and a boutique mountain resort it is clear that across the sector operators are enjoying strong demand. Many report an increase in overseas guests with forward booking enquiry looking strong both from domestic and international visitors. This demand within the leisure sector is surely set to rise with the exchange rate seemingly set to stay lower than we have seen for some time. Recent changes in policy by the Swiss Central Bank will probably see investment flow back to the Swiss Franc which, in combination with an improving US economy and low domestic rates, will most likely see the AUD drift below 80c US. Not good news for the cost of imports but great news if you are trying to attract overseas visitors and retain domestic travellers. We returned home with thoughts of travel plans for the year. Discussion turned to Europe or maybe another USA excursion when the penny dropped. We live in one of the most diverse and beautiful countries on earth. We enjoy a stable political system and a relatively positive economy. In spite of some well publicised cultural and religious differences we all get on pretty well and I believe we have much to be thankful for. The exchange rate is heading south, interest rates are low and most of us have a job. Here's a tip. Take a trip and discover Oz. It's really special. END resortbrokers.com.au

Exclusive LH

38% return with a brand new 25 year lease! On offer is the leasehold business of a lovely 18 room motel and large three bedroom managers residence, in the foothills of the Australian Alps. A new 25 year lease is available in what is a strong service and tourist town. The property is showing strong forward bookings into 2015. This is a great option for first timers with a freehold investor in place. The property boasts a breakfast room, in ground pool/BBQ area and ample parking. The manager's unit is conveniently located just off reception.

• Brand new 25 year lease with a 38% return • 18 room motel AAA rated 3-3.5 star • Stunning outlook over the upper Murray foothills • Experienced freehold investor

Nett: $146,000

Price: $385,000 resortbrokers.com.au/motels-for-sale/LH003534

Liz Galea Broker Mobile. +61 417 334 298

Melbourne Office. 03 9347 3100

Email. lizgalea@resortbrokers.com.au

Exclusive MR

33% return - Melbourne growth corridor A rare opportunity to buy a four star motel only 50 minutes from Melbourne CBD. It’s the only motel in town and has recently been rebranded. As you can see from the photos, the motel has been fully renovated, so it’s just a matter of taking over and making money from day one. With a whopping 33% return and a manageable 15 rooms this is ideal for newcomers to the industry or semi retirees. The property has a four bedroom residence, so there is plenty of room to move. This property won't last long, it has it all!

• Long lease and very good rent • Comfort Inn branding • 15 fully renovated motel rooms • A fantastic return for such a quality business

Nett: $136,890

Price: $405,000 resortbrokers.com.au/motels-for-sale/LH003536

Stuart Charles Broker Mobile. +61 458 588 472 Email. stuartcharles@resortbrokers.com.au 50

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Melbourne Office. 03 9347 3100

Exclusive FH

Multi-award winning motel in beautiful outback Australia The Lodge Outback Motel offers an exclusive boutique heritage three AAA star rated motel located in the outback NSW town of Broken Hill. The accommodation consists of 12 luxury and 10 standard rooms, in addition a stand-alone cottage. The variety of room types cater for different clientele including corporate, family and leisure. Since taking over the business 9 years ago, the current owners have focused their effort and passion into ensuring the motel is contemporary, comfortable and true to its historical heritage. This effort has been recognised by the numerous awards it has won.

• Cottage purchase opportunity – ideal for offsite residence • Manageable 22 rooms • Genuine net operating profit upside for husband and wife team • Perfectly poised to operate for a period and create the ultimate passive freehold investment

Nett: $267,054

Price: $1,850,000 neg resortbrokers.com.au/motels-for-sale/FH003524

James Carrick

Andrew Rendall

Broker

Mobile. +61 400 664 065

Mobile. +61 412 635 344

Email. jamescarrick@resortbrokers.com.au

Email. andrewrendall@resortbrokers.com.au

Exclusive MR

Great first timer management rights 5 mins from Broadwater A great opportunity for a couple seeking a good home and an additional income to enter the managements rights industry. This well maintained Gold Coast permanent management rights is located only five minutes from the Broadwater and sits among tropical gardens and enjoys a lagoon style swimming pool. The tranquil gated community consists of a mix of 31 villas and townhouses, 17 of which are in the letting pool. A very well presented villa style managers unit consisting of three beds, one bath, with direct park access, a single lock up garage and patio.

• Permanent complex central location, close to the Broadwater • Minimal work load • No office hours in the agreement • Gated estate with villa style managers unit • Long agreement terms

Nett: $76,500

Price: $650,000 resortbrokers.com.au/management-rights-for-sale/MR003588

Carolyn Griffith Broker Mobile. +61 419 675 429

Headoffice. 07 3878 3999

Email. carolyngriffith@resortbrokers.com.au resortbrokers.com.au

EDITORIAL

COPING WITH CRITICISM ON TRIPADVISOR BY NICK BUICK - THE ONSITE MANAGER Forget five star classifications, forget travel agents and forget about newspapers, fax machines and traveller’s cheques too - unless you’re a museum curator, these things are not important to your accommodation business anymore. Have I got your attention yet? Good, that was a slight exaggeration but I needed to open with a punchy first paragraph. What I really mean is: Trip Advisor is playing a huge role in how people book accommodation these days, and you shouldn’t ignore it (not quite as impressive, I know.) I travel a lot and I always leave Trip Advisor reviews wherever I stay, and I also use Trip Advisor more than any other tool when it comes to booking hotels. Sometimes I leave good reviews, sometimes I leave bad ones. I always try to be fair in my reviews, but there’s no rule that says you have to be. You can be as unfair as you want in your reviews and no one can stop you. As a business owner, you need to be able to deal with this, here’s how: The first thing you need to do as a business owner is be engaged with social media. Search for your business on Google, Twitter, Facebook, Trip Advisor, etc, and always check what people are saying about you. Remember, this information is valuable 52

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to your business, it’s insight and knowledge you wouldn’t otherwise have and you should take full advantage of that, even the ugly negative stuff you’ll find. The next thing to note is that you WILL find ugly negative stuff. Ok? You’re going to find it. Let’s just put that on the table right now. My favourite resort on earth is magnificent in every single way and I stay there several times a year, have done for almost a decade now. Yet if I check trip advisor, I see pages of negative one-star ratings… people complaining because they had to close their own curtains one time, to people complaining because it rained while they were there. Nothing shakes my faith in humanity faster than reading comments on the internet, some people are certifiable idiots. So just understand that no matter how good your resort is, you’re going to get negative nellies posting nasty things about you from time to time. There is no way to avoid this; you can’t control what people say about your resort. I’ve been sent legal letters from companies trying to force me to retract my bad reviews, it doesn’t work. I’ve seen companies try and threaten sites like Facebook or Tripadvisor or Google to remove their negative reviews. It doesn’t work either. You can’t control what

people post as their opinion of your business on the internet… what you can control, is how you respond. Always respond to all reviews, both negative and positive. You should clearly state who you are, your position, and where you work. This is important because it shows to the world, that you’re across the issue being raised and that your business is investigating and endeavouring to fix the problem. How you handle the complaint speaks volumes about the attitude of your business, even more than the complaint itself, so always respond publicly to feedback. Never be rude or antagonistic. Be humble, apologize, no matter how unfair the review is, no matter how annoying the reviewer is or how factually inaccurate they are. If you did everything right, you can still apologize for how someone else ‘feels’. “I’m very sorry to hear we didn’t meet your expectations on this trip”. Remember, you’re not just addressing the reviewer, you’re addressing the 60 million other people registered on Trip Advisor, and how you react is up to you. If the reviewer is rude or up tight, your polite response with garner you even more support from the audience. If you’re rude back to them, it will do the opposite. Westen from the B&B Association says, “It’s tempting to respond robustly, but the reader will be on the side of the customer, so keep your response balanced. Be careful and sympathetic first without being dismissive.” If there is an actual issue being complained about (mildew in the shower, no coffee in their room, the curtains were faded, etc) post your phone number or email address and ask them to contact you with more details so the matter can be investigated further and resolved. This is your opportunity to turn the negative into a positive and become a better business with free customer feedback. It also shows those 60 million people that you want to be better. Take the time to explain issues to reviewers (and their all-important audience). If they are complaining because you took a credit card imprint at check in, and didn’t refund this in full. You need to tell your side of the story… that the guest booked the room for 2 people, but 6 actually stayed there; that they had a party, and threw the television into the swimming pool and that's why they lost their bond. I often read reviews where I think the hotel sounds terrible, until I read the hotel’s response and then realise the guest wasn’t being completely honest in their review. Again, don’t try and involve lawyers or make threats either online or offline, you’re wasting your time and potentially damaging your reputation. Just tell your side of the story. Remember, you can’t control what people say about your business, but what you can control, is how you respond. Responding correctly to negative reviews will affect your business far more than any harm caused by a negative review. And, ultimately, it will ensure you get more good reviews than bad ones in the future. END

Exclusive MR

Island resort connected by a bridge to the mainland Buy a business, that is easily managed by a couple and enjoy a great lifestyle in a pristine location only 50 minutes drive to Brisbane International Airport. There is something to suit everyone on this island including a choice of two golf courses, water sports, fishing, boating, surfing, four-wheel driving, parasailing, nature walks, eco tours and ferry cruises on the beautiful Pumicestone Passage.

• Excellent presentation - building exterior repainted in 2011 • The location, condition, style and return of the units make them very attractive to investors • Potential upside for an incoming manager who wants to focus more on repairs and maintenance

Nett: $145,501

There is an opportunity to enhance the marketing of this business by an incoming manager with good internet and social media skills. On an upward trend, the net income has increased each year and is still rising.

Price: $969,745 resortbrokers.com.au/management-rights-for-sale/MR003561

Neville Littleton Broker Mobile. +61 407 727 194

Headoffice. 07 3878 3999

Email. nevillelittleton@resortbrokers.com.au

Exclusive MR

Not one day’s rent lost in three years The complex consists of 44 stand alone villas (including the manager's) and 33 three and four bedroom town houses. There are currently 50 units managed in the onsite permanent letting pool. The location, condition, style and return on the units makes them very attractive to investors, providing security to the manager’s letting pool. The work load is easily managed by a couple, the equipment is in good condition, the body corporate remuneration is substantial what more could you want?

• A top rental location adjacent to several educational facilities • A high growth area with a new rail link construction under way • A secure body corporate remuneration of $105,379 with CPI increases • A beautiful manager’s residence

Nett: $217,000

Price: $1,570,000 resortbrokers.com.au/management-rights-for-sale/MR003597

Neville Littleton Broker Mobile. +61 407 727 194

Headoffice. 07 3878 3999

Email. nevillelittleton@resortbrokers.com.au resortbrokers.com.au

Exclusive FHGC

Fabulous freehold going concern with excellent corporate clientele and highway frontage This 17 room fully refurbished motel is a sensational investment for a savvy operator. The vendors have spared no expense in fully renovating the bathrooms and motel rooms. Set on spacious grounds, this motel also offers an opportunity for further expansion (subject to DA) with plans already drawn up for an additional eight rooms. Next to the property is a three bedroom house with a large salt water in ground pool that is included in the purchase. This could either be utilised as an additional rental to the motel, or as the managers residence.

• 17 fully refurbished rooms • 40 seat licensed bar and restaurant • Spacious three bedroom house with pool and garage • 3.5 star AAA rated • Spacious grounds with room for expansion • Plans for eight additional rooms included • Excellent first time freehold • Strong repeat corporate clientele

The motel also features a 40 seat licensed restaurant with a separate bar and lounge area with fireplace. Located less than two hours from Sydney in the picturesque valley of the western slopes of the Blue Mountains, Lithgow is a popular tourist destination and corporate hub. The area has a strong corporate and leisure clientele. This motel is a fantastic opportunity in close proximity to Sydney.

Nett: $152,866

Price: $1,700,000 resortbrokers.com.au/motels-for-sale/FH003608

Shane Wynhoven Broker Mobile. +61 424 174 592 Email. shanewyhoven@resortbrokers.com.au Sydney Office. 02 9904 8224 54

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Magnificent complex, spectacular views & highly profitable - this one has it all! Beachside Grandview Apartments is set in tropical gardens and enjoys a prime hilltop position with unrestricted views over the Pacific Ocean and Richmond River, while magnificent Shelly Beach is only a few minutes stroll away.

Ballina is booming and fast becoming a ‘lifestyle destination’ for affordable beach holidays with its unspoilt patrolled surfing beaches, superb social, sporting and shopping options, trendy café’s, leisure activities and fabulous river and surf fishing.

This extremely well maintained building and secure business offers the perfect combination for work, live and play. With its sizeable income, stunning managers apartment with incredible views and proximity to the beautiful surf beaches and Ballina’s thriving CBD, its an opportunity not to be missed.

• Stunning elevated two bed, two bath manager’s apartment with ocean and river views • Consistently high and growing net profit • Easily managed complex set in lush tropical gardens • Less than an hours drive to Coolangatta International Airport • Facilities include salt water swimming pool, heated spa, gym, meeting room, sun lounge and deck overlooking river and ocean and secure basement car parking with private storage

Grandview Apartments business has shown consistently strong growth over the past few years, and with energetic management this trend will continue. The stunning elevated manager’s apartment opens onto patio/deck on two sides offering uninterrupted ocean and river views. Typical apartments include two bedrooms and three bedrooms. There are also the penthouses which are all self-contained, with breathtaking views and resort facilities.

Nett: $349,523

Price: $2,120,000 ono resortbrokers.com.au/management-rights-for-sale/MR003617

Ian Dore Broker Mobile. +61 412 752 238 Email. iandore@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

Exclusive FH

Seal Bay Cottages, Kangaroo Island S.A. - buy total or part with vendor finance options Seal Bay Cottages and Café is offered for sale on an ‘as-is, walk-inwalk-out’ basis. Built on 35 picturesque acres, it is ideally located in the middle of the Kangaroo Island tourist route on the South Coast Road, opposite the turn-off to the world famous Seal Bay Conservation Park. The Island is 110km south-west of Adelaide and easily accessed by vehicular ferry, helicopter or plane, while the property is just half an hour’s drive from Kingscote. 'KI' as it is known by the locals is the perfect base for visiting Little Sahara, Kelly Hill Caves, Remarkable Rocks and Flinders Chase National Park, while only 10 minutes’ drive to the fabulous Vivonne Beach famous for surfing, fishing, golf and other attractions. It boasts gourmet food and wines and a real holiday spirit, while being one of Australia's great scenic treasures. The tourist accommodation includes the following with infrastructure connected (electricity, water, sewerage): • 7 fully furnished self-contained cottages sleeping up to 6 people each • 5 bed backpackers self-contained hostel sleeping up to 12 people

• Owner / manager accommodation is a one bedroom fully selfcontained cottage • Food barn, restaurant, bar, freezer room and carport, machinery and implement sheds etc • Council approval for one extra 12 person cottage (services connected) • Proven venue for large festivals, conferences, weddings and events • Selling below Certified Valuation of $1,329,000 • Inventory schedules available upon request • Liquor license for entire 35 acre property - perfect for large festivals Purchase options with flexible vendor finance.

Price: $985,000 (ONO on walk-inwalk-out basis) resortbrokers.com.au/caravan-parks-for-sale/FH002786/

Ian Dore Broker Mobile. +61 412 752 238 Email. iandore@resortbrokers.com.au Headoffice. 07 3878 3999 56

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Exclusive FH

Freehold Port Douglas offers opportunity for future gains - now is the time to buy! Port Douglas is back on the market and this is a great opportunity to gain a secure foot hold for future gains. The tourist market in Port Douglas is experiencing improved trading seasons and strong shoulder seasons. The economic recovery continues to proceed and is turning around. This is supported by solid trading conditions with domestic and international tourism. The Pelican Motel is located on the main access road into Port Douglas and set upon on 4,419 m. The motel has 17 motel style rooms, a large three bedroom residence, a separate restaurant/ function building, resort style pool and plenty of storage and grounds. The motel has been in caretaker mode over the last four years with most revenue derived from permanent/transient workers within the Port Douglas landscape (ie hospitality). This has allowed the caretaker to work on other projects for the vendor within district. The motel's restaurant/function centre is not in use and only 1-2 rooms are rarely used as a short term accommodation option.

The opportunity here is in the land size and location for future development. There are a variety of accommodation properties within the immediate vicinity that trade successfully through the leisure market. It won’t take long to make an impact with renovation and to trade as a motel if desired. The current operation covers the costs in caretaker mode. The current vendor lives interstate and has decided to focus on other projects. • Land size 4,419 m • 17 motel units and separate restaurant building • Large two bedroom residence with private yard • Opportunity for future gains

Price: $1,795,000 resortbrokers.com.au/motels-for-sale/FH003640

Shane Mullins Broker Mobile. +61 447 185 001 Email. shanemullins@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

Exclusive MR

Top combo - two outstanding apartment blocks with only one unit to buy On offer are two excellent management rights businesses located in the fast growing suburb of Nundah. Moda Melton is superbly located and is a well-appointed three story walk up apartment complex. Attached is an amazing four bedroom managers unit which comes complete with a large office. Nexus Apartments is located just 1km away and is a 53 unit 8 story apartment block. Nexus is a very easycare property that is almost a caretaking only business as there are only two rental properties to manage. There is no need to live onsite and no managers unit to buy. The salary is great for the amount of work involved here. The Moda Melton complex and management rights have a total of 77 units, of which 35 are in the letting pool.

This management rights has a huge amount of potential for a manager with a full licence and a keen eye to add value to this business. • The office located at Moda Melton is large and well equipped, with approval to run a realty business • Potential to add other rentals and unit sales • There is currently no repairs and maintenance in the figures, representing a good upside for the next manager • The caretaking workload at both Moda and Nexus is easily managed • The Moda Melton managers unit is outstanding - four bedrooms, three bathrooms with a modern design. Ideal for entertaining family and friends. Close to the local cafe scene, shops, airport, train station and a quick trip through the tunnel to the CBD

Nett: $218,757

The grounds are easy care and there is a ride on mower to mow the grass area at the top of the complex. The current managers run both properties from the Moda Melton office.

Price: $1,978,000 neg

These are a great complexes close to shops, rail, cafés and the airport always very popular with the renters.

resortbrokers.com.au/management-rights-for-sale/MR003594

David Janett

David Jiang Hui 江晖

Broker

Mobile. +61 481 500 278

Email. davidjanett@resortbrokers.com.au

Email. davidjianghui@resortbrokers.com.au

Headoffice. 07 3878 3999

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EDITORIAL

TOWNSVILLE IS NORTHERN AUSTRALIA’S ECONOMIC POWERHOUSE WITH HUGE INVESTMENT POTENTIAL BY ROSS McLENNAN Located halfway between Cairns and the Whitsunday Islands, Townsville offers a range of tourism opportunities that take advantage of a large regional market, interstate and international drive tourism markets and visiting friends and relatives. Townsville has a unique and colourful history and an abundance of natural attractions, including the World Heritagelisted Great Barrier Reef, Wet Tropics rainforests and national parks as well as the historic outback, all within easy reach. The region offers significant potential for ecotourism and adventure tourism developments. In the last decade, Townsville has undergone exceptional population and economic growth. Home to more than 190,000 people,

Townsville has emerged as one of the most dynamic regional cities in Australia and consistently makes an above average contribution to the Queensland and Australian economies. Townsville is now the largest regional city in northern Australia. As the city grows, demand for quality accommodation, unique tourism attractions and short-stay holidays increases. This provides huge potential for tourism investment. Townsville’s civic leaders, including local, state and federal politicians and key business professionals, have provided a strong platform for investment, particularly in the tourism sector, with major projects, policy changes and new infrastructure already in place. An $85 million cruise facility at the Port of Townsville was completed in late 2013. Key industry bodies are encouraging development within the cruise industry to capitalise on this opportunity and to offer products and services that will cater to the cruise industry and its passengers. Mr Abbott was recently in Townsville and told reports, “From the first of March 2015, international flights will be able to land in Townsville with the scheduled completion of services to deal with these passengers available,". He said the announcement showed the north of Australia was open for business. "Townsville will be open for business and Townsville Airport for international flights; we certainly are going to help to make Townsville another gateway to Australia". This is very good news for Townsville.

Another major project for the Townsville region is in the planning stages. Indeed, city leaders are voicing their support for the city Waterfront project as a key jobs strategy for Townsville over the next five years. Townsville Mayor, Cr Jenny Hill said, “We have an opportunity to create a waterfront precinct in the CBD that puts Townsville up there with some of the great cities of Australia,” she said. “The inner-city network will be an extension of The Strand down Ross Creek, providing the pedestrian links between the Integrated Stadium and Events precinct, the CBD, The Strand and Jezzine Barracks - creating a tourism hub and providing the stimulus for new major private investment"q. Townsville has recently seen major investment in the tourism sector by a leading hospitality organisation, Colonial Leisure Group. The above projects and decisions have made investing in this region a no brainer as Jupiters Hotel Casino, one of Townsville’s iconic properties, transitioned to new owner Colonial Leisure Group. Colonial Leisure Group is excited about further investing in tourism in Queensland and continuing to develop Jupiters into a leading regional resort. Colonial Leisure Group owner Chris Morris has said he wants to transform Jupiters into a mini-version of Melbourne’s Crown Casino and Entertainment Complex and will spend at least $20 million over the next three years. With major interest in the area and the geographical location of Townsville in relation to major Asia markets, the future is looking very bright indeed. END resortbrokers.com.au

Exclusive FH

Award winning motel in a secluded and leafy location with exceptional revenue growth Emeraldene Inn and Eco Lodge has been consistently rated as one of the top three properties by guest reviews on Trip Advisor for Hervey Bay. It continues to win awards with the most recent being the 16th best 'Budget' Hotel in Australia by Trip Advisor 2014. Consisting of 14 AAA rated rooms, Emeraldene Inn and Eco Lodge is situated on a large block of 8060 m2. With only 12% footprint being used, there is huge potential to use the substantial excess land. The future possibilities for this motel include, but are not limited to, subdividing additional land or substantially expanding the business by adding extra units. The motel has enjoyed exceptional revenue growth (two year compound growth 20%) and is currently managed and run by one owner / manager with two casual cleaners. So, it would be easily run with a working couple. What are you waiting for? Arrange an inspection now, while the iron is hot!

• Plenty of room to expand or subdivide and sell the blocks • 66% occupancy • Perfect position to capitalise on the new and expanded hospital precinct • Broad base of clientele • Turnover has increased annually • Rooms have been upgraded very recently • Beautiful surroundings • Neat as a pin, worthy of your immediate inspection

Nett: $255,120

Price: $2,185,000 resortbrokers.com.au/motels-for-sale/FH003456

Lindsay Cooper Broker Mobile. +61 418 711 047 Email. lindsaycooper@resortbrokers.com.au Headoffice. 07 3878 3999 60

resortbrokers.com.au

Live in beautiful Ballina - excellent motel cashflow business Booming Ballina presents the perfect opportunity for an energetic couple to step straight into this excellent cash flow business and immediately reap the rewards of improved profitability by taking advantage of identified restructuring. The present lease operators are in their 70’s and are running the motel while effectively being in retirement mode. For example they no longer offer full guest services, apart from hot breakfasts. The previous manager’s offered cooked breakfasts, cut lunches and evening meals if and when required. With the fully fitted-out function/bar room sitting idle, there is an immediate opportunity to lift the turnover and grow the net profit. This room is located on the ground level adjoining the commercial kitchen. As the motel has a full liquor licence, it could be used in early evenings as a bar offering snacks. One would expect this to be a huge success with the motel's strong rep trade. Advertising these guest services on the motel’s website would also drive additional occupancy to the business.

Further immediate savings could be achieved in the areas of cleaning, handyman work and ground maintenance. • 26 rooms - executive studios, family rooms and self-contained two bedroom suites • Well located - quiet off highway location close to CBD and beaches • Long 24 year lease term and secure strong net profit • Underutilised function room with bar (identified upside opportunities) • Fully refurbished with consistently strong 71% occupancy • Easily managed by a couple with casual assistance

Nett: $216,714

Price: $739,000 ono resortbrokers.com.au/motels-for-sale/LH003555

Ian Dore Broker Mobile. +61 412 752 238 Email. iandore@resortbrokers.com.au Headoffice. 07 3878 3999 resortbrokers.com.au

EDITORIAL

resortbrokers.com.au

Australia’s third oldest city, Launceston is a major gateway to our beloved island state. A recent study by Tourism Research Australia identified the ‘core appeals’ that motivate people to visit Tassie wilderness and nature; food, wine and produce; heritage and history; arts and culture. In and around Launceston, all are found in rich abundance. Launceston is noted as having one of the most intact early cityscapes in Australia. Its preserved colonial and Victorian buildings, and classically beautiful parks and gardens give it a wonderful historic character. Visitors staying in town can walk easily to a myriad of heritage attractions, to vibrant café and shopping precincts, to Boags Brewery and to Launceston Seaport. They can stroll to Aurora Stadium, home of AFL in Tasmania, to Queen Victoria Museum and Art Gallery, and The Design Centre, Australia’s only museum collection of contemporary wood design. Amazing too that such a spectacular natural gem as Cataract Gorge is within walking distance. Likewise picturesque City Park, which hosts Festivale and Symphony under the Stars, and the popular Harvest Launceston Farmers’ Market. Tasmania’s North has immense appeal to a range of visitors, from couples seeking a romantic getaway to families and adventureseekers. And because of its accessibility, the region is also a prime weekend destination for travellers from Melbourne and Sydney. It is the perfect base from which to explore a region of outstanding

REGIONAL SNAPSHOT:

Launceston TASMANIA

WE SHINE A SPOTLIGHT ON KEY REGIONS TO REVEAL WHAT IS DRIVING TOURISM AND ACCOMMODATION INDUSTRY GROWTH diversity and wonder. Graze the epicurean delights and wineries of the Tamar Valley, cruise the Tamar River, and tee off at Barnbougle Links and Lost Farm golf courses. Visit the largest lavender farm in the world, Bridestowe Lavender Farm, and Ben Lomond National Park. Or venture a little further to find amazing adventures and vast unspoilt wilderness beauty. A GREAT BUSINESS MOVE Launceston-Tamar Valley – the heart of Tasmania – presents an extremely attractive business and investment proposition. It offers a refreshingly relaxed pace, yet has all the sophistication and facilities of a metropolitan city. Business operating costs are relatively inexpensive, and the workforce highly productive and loyal. ICT infrastructure is well-advanced and there is a strong learning culture, encouraged by high quality education institutions, including the University of Tasmania campus catering to over 3,600 students. Launceston is also a vibrant retail centre, as well as being the tourism, education, medical and business service hub for Northern Tasmania. Add to this its truly enviable lifestyle – a comfortable climate not unlike that in the south of France, a vibrant events calendar, and outstanding food and wine – and you can’t go wrong. Greater Launceston has a population of

107,000, and proudly claims to be located in the safest region in the safest state in Australia. It is a city of innovation and enterprise, with the tremendous advantage of boasting excellent transport infrastructure. Here you enjoy close proximity to Melbourne (50 minute direct flight) and Sydney (less than two hours direct) and are less than a three-hour drive from any part of the Tasmania. Launceston Airport welcomes 26 flights per day by Qantas, Jetstar and Virgin Blue to and from the interstate capitals. The airport achieved 5% passenger growth in 2013-14, boosting total passengers to a record 1.28 million and outperforming the national domestic air travel trend. Spirit of Tasmania operates two ships sailing between Melbourne and Devonport (just over an hour’s drive from Launceston City), departing both locations most nights. TOURISM GROWTH A record number of visitors spent $1.5 billion in Tasmania in 2013, putting the state on track to boost visitor numbers to 1.5 million by 2020 and increase visitor spending to $2 billion. Tourism in Tasmania directly and indirectly contributes about $2.4 billion or 9.8% to Gross State Product (GSP), the highest contribution level in the country. Launceston is a vital Tasmanian destination, and a major economic driver for the tourism

sector in the state. Tourism contributes more than $320 million annually to the city’s economy, and close to $500 million per annum to the Northern Tasmania Region. While many Launceston visitors come to the city by car or coach as part of a touring holiday, the region is clearly a strong destination in its own right. Launceston airport accounted for 31% of all air visitors to Tasmania in the year ending March 2014. Improved conditions for leisure travel, both inbound and domestic, are underwriting robust demand growth across Australia. According to the Deloitte Access Economics Tourism and Hotel Market Outlook, at a national level, demand will grow at nearly twice the pace of accommodation supply over the next few years, propelling occupancy rates higher. While Deloitte’s study looked specifically at Tasmania’s capital, Hobart, the findings are

indicative of the positive trend. “2013 saw average room rates and the key indicator of RevPAR grow faster than long term averages,” the report said. In Hobart, Deloitte found average occupancies grew 3.7% in 2013, and room rates 4.6%, the fastest rate of any capital city other than Darwin. CENTRAL TO GREATEST GROWTH MARKET Launceston is ideally positioned to capitalise on the fast emerging trend towards experiential and lifestyle tourism, with a particularly strong focus on food and wine, and the journey from paddock to plate. Culinary tourism, built around visitors’ enjoyment of food and wine, exploration of regional environments, and the experience of cultural, nature-based and lifestyle activities, is one of tourism’s greatest growth market segments. Just how compelling culinary attractions can be as a reason for visitation is highlighted by Tourism Australia’s recent $10 million “Restaurant Australia” campaign, promoting the idea of Australia being the world’s ‘greatest restaurant’. Their research confirms ‘food and wine’ to be a key factor in holiday decisionmaking, in fact the most important emotive trigger in destination choice, just ahead of world-class beauty. The benefits set to flow from this global phenomenon cannot be underestimated. Australia, and Tasmania in particular, are gaining reputations as revered culinary destinations in their own right. The potential of the tourism sector to grow more strongly as a pillar of the Tasmanian economy is clearly backed by the level of Government attention and support it receives. In addition to significant investment in tourism infrastructure development, an extra $16 million per annum in tourism marketing funding was budgeted in 2014 to capitalise on the current momentum and drive further growth in visitation. END

LOCAL BUYER SECURES THE SEBEL LAUNCESTON A LOCAL buyer outbid national and international contenders to secure The Sebel Launceston 4.5 star CBD apartment hotel in a deal worth close to $10 million, negotiated by Resort Brokers Australia. Described as the city’s finest hotel, The Sebel Launceston was sold to the undisclosed local investor by its original developer and owner of nine years, Tasmanian Boutique Hotels Pty Ltd. Resort Brokers Australia national sales manager Trudy Crooks says the hotel listing stirred up “plenty of excitement”, attracting 30 genuine enquiries. “Within two weeks of listing, seven offers were lodged with us at the asking price of just under $10 million, including from Queensland, New South Wales, Victoria and Singapore. In the end, it was a Tasmanian buyer who paid the list price for both components in a deal which, remarkably, took just 10 weeks from

listing to settlement.” Resort Brokers Australia was appointed to handle the campaign because of its expertise in splitting properties into two components, freehold investment and lease, enabling a much higher total value than a sale in one line. The sale of the freehold land and buildings component showed a 9 per cent return while the leasehold sold on a 26 per cent return, she said. The Sebel Launceston features 49 selfcontained one and two bedroom suites, the popular Market Square Restaurant, two dedicated conference venues, a gymnasium, courtyard and large reception and lounge with open fire. The hotel, Accor’s flagship address in Tasmania, will continue to operate as part of the growing Sebel portfolio, the group’s upscale apartment hotel brand. END

RAY IRONSIDE - TASMANIA

NEW(ish) KID ON THE BLOCK Resort Brokers Australia continues to expand to meet growing demand and deliver exceptional standards of service across key market areas. In an issue of Informer that both celebrates our company’s long service and puts the spotlight on positive tourism activity in the ‘Apple Isle’, it’s only fitting we welcome back an old friend and colleague, Ray Ironside. Resort Brokers was very pleased to have the opportunity to re-engage highly experienced broker Ray Ironside to look after the needs of sellers and buyers active in Tasmania’s dynamic tourism and hospitality industry. A long-time Launceston-based property identity, Ray was part of our team a few years back, before he took a sabbatical to take care of family overseas and pursue other business interests. It is great to have such an accomplished broker back on board. Ray has lived and worked in Launceston for the past 40 years and has been a prominent figure in the region’s real estate industry. After managing publicly-listed rural residential real estate firm Webster, he established his own company, initially operating as Richardson and Wrench Bathurst Street and later as Mikeray Real Estate. There, he oversaw substantial growth in the field of property management, running a large portfolio of residential, commercial, industrial and shopping centre properties, and establishing a second city office of Mikeray. After selling Mikeray to Statewide Real Estate, Ray pursued private interests in property management, including tourism and hospitality-related properties, before joining Resort Brokers in the 2000s. He fast became one of our best brokers. More recently, while spending a considerable amount of time abroad, Ray has also owned and overseen the operation of a motel and caravan park business in northern Tasmania. With such direct hands-on experience of tourism and hospitality businesses, plus extensive real estate industry know-how, Ray couldn’t be better placed to assist our valued clients. And, when he has some ‘me’ time, our man in Tassie indulges his love for music and learning. Currently (“much to my wife’s dismay!”) he’s mastering the ukulele. END resortbrokers.com.au

EDITORIAL

GOLD COAST MARKET UPDATE BY ALEX COOK - RESORT BROKERS AUSTRALIA The Gold Coast short-term accommodation market, driven largely by the tourism sector, has strengthened considerably over the past 18 – 24 months and shows signs of improving further. This growth has been, and is expected to be, underpinned by a reduction in the strength of the Australian dollar, improvements in the state and national economy, infrastructure improvements and rising inbound tourism from asia. A key market report released in late February 2015 shows the Gold Coast to be the strongest performing tourism market in Australia over the past year. The ‘Deloitte Tourism and Hotel Market Outlook’ shows a 10% jump in tariffs and revenue per available room in the 2014 calendar year, as well as 4% increase in occupancy. The report’s authors predict that occupancy will continue to grow, before hitting the highest levels in 20 years in 2017. Deloitte Access Economic partner, Lachlan

EXCLUSIVE LISTINGS

Smirl, expects the lack of new product coming onto the Gold Coast market to have a positive effect on tariffs and occupancies for the next two years. “If more projects come out of the ground we will adjust the numbers”, he said. “But at this stage there is nothing much we can factor in”. He goes on to say “things have not looked so good for the Gold Coast for some time”. This report provides particularly interesting reading when contrasted with ‘Queensland Tourism Product Lifecycle Report’ prepared by JLL for the Queensland Government in August 2014. It points out that hotel and apartment development has been limited over the past decade, with the consequence that products are ageing rapidly. When taking into account a number of factors (including age of asset and last refurbishment), the report estimates 30% of the Gold Coast accommodation product is reaching maturity, with almost 16% in the declining phase. Although the Gold Coast tourism market is strong and showing signs of growth, there is arguably insufficient high-quality room stock to meet the demands of this market. As the Gold Coast fast approaches its international date with destiny, The Commonwealth Games, one can expect the demand for quality product to grow. Soul is one of the properties on the Gold Coast that offers a world-class product. Despite the general shortage of new short-term accommodation, there are significant improvements to the Gold Coast, either recently completed, underway or in the pipeline. As well as large-scale infrastructure improvements such as the Gold Coast Light Rail, several significant projects are imminent. These include the $345M redevelopment of Jupiter’s Hotel and Casino and ASF Consortium’s plans to develop a $7.5B integrated resort, casino and cruise ship terminal on the Southport Broadwater, both likely to attract more tourists to the Gold Coast. END

BRIEF DESCRIPTION

TYPE

LOCATION

UNITS

PERM/HOL

NETT

PRICE

Seaside location 40 unit motel with loads up-shot

Cardwell

Short Term

$120,000.00

$395,000.00

Potential Plus in NSW Snowy Mountains

Adaminaby

Short Term

Modern Permanent Management Rights on the Broadwater

Runaway Bay

119

Permanent

$241,000.00

$1,895,000.00

Leasehold Boutique Hotel Ballarat CBD

Ballarat

Short Term

$260,845.00

$350,000.00

Rare oceanfront freehold property in paradise

North Haven

Short Term

$143,928.00

EOI

Rose Gums Wilderness Retreat

Malanda

Short Term

Management Rights in Queenstown New Zealand

Queenstown

$267,000.00

$1,700,000.00

Upgraded Holiday Park with NSW North Coast beach lifestyle

South Ballina

Short Term

$259,578.00

$2,250,000.00

Large Net - Large Salary - Large Sinking Fund

Bridgeman Downs

113

Permanent

$285,000.00

$2,440,500.00

Leasehold Serviced Apartment Business - Great Ocean Road City

Warrnambool

Short Term

$424,122.00

$1,750,000.00

30 Year Lease - Melbourne Fringe

Warragul

Short Term

$257,303.00

$915,000.00

Freehold Highway Frontage Motel with Plenty of Upside

Narrabri

Short Term

$166,317.00

$1,250,000.00

resortbrokers.com.au

$1,500,000.00

$5,100,000.00

EXCLUSIVE LISTINGS cont. BRIEF DESCRIPTION

TYPE

LOCATION

UNITS

PERM/HOL

NETT

PRICE

Bargain price showing 37% Return on Investment

Lismore

Short Term

$133,545.00

$360,000.00

Multi-award winning Freehold Motel in beautiful Outback Oz

Broken Hill

Short Term

$267,054.00

EOI

Nowra's newest accommodation facility - completion April 2015

Nowra

Short Term

North Gold Coast Permanent MR - $226K net

Runaway Bay

Permanent

Superb Serviced Apartment Leasehold Business

Liverpool

Short Term

Surfers Paradise Business - Best Returns on the Market

Surfers Paradise

Short Term

$170,000.00

$1,050,000.00

Off The Plan Management Rights - Robina

OTP

Robina

129

Permanent

$410,000.00

$2,529,000.00

Brand New Lease in a Stunning Position - 30% Return

Corryong

Short Term

Rare Freehold and Business close to Melbourne

Warragul

Short Term

Rare investment opportunity - 38 room 4 star motel

INV

Wagga Wagga

Short Term

No Requirement to Live Onsite - CBD off the Plan

Brisbane

Permanent

$241,761.00

$1,015,397.00

Solid Gold Location with 83% Occupancy - Safe, Secure Business

Ballina

Short Term

$151,160.00

$650,000.00

Eco Village Resort - Low Running Costs (Own Solar Power Grid)

Hidden Valley

Short Term

$182,201.00

POA

Large Holiday Resort on the Beach

Trinity Beach

Short Term

$352,000.00

$1,931,000.00

Southside Complex - Converted to Accommodation Module

Tarragindi

Permanent

$109,391.00

$865,381.00

South Bank's Best Kept Secret is Now for Sale

South Bank

Mixed

$180,000.00

$1,050,000.00

The Perfect Add On to Your Nest Egg - Boasting a Huge 23% ROI!

Morningside

Permanent

$55,020.00

$235,000.00

Best Property in the Region with an Excellent Return!

Barooga

Short Term

$521,375.00

$3,600,000.00

Rare Freehold Inner City Hotel Cairns

Cairns North

Short Term

$550,000.00

$4,950,000.00

Solid as a rock - Brisbane Motel Lease

Hamilton

Short Term

$610,409.00

$2,380,000.00

An Island Paradise with a Great Lifestyle

Bribie Island

Mixed

$145,501.00

$969,754.00

An Immaculate Park on the Atherton Tablelands

Atherton

Short Term

$702,692.00

$5,875,000.00

Mid North Coast NSW - Waterfront boutique leasehold opportunity

Port Macquarie

Short Term

$630,038.00

$2,250,000.00

Tasmanian Resort Hotel Leasehold - 33% Return on Investment"

St Helens

Short Term

$515,278.00

$1,550,000.00

Permanent Management Rights Perfect Location Premium Lifestyle

Burleigh Heads

Permanent

$73,620

$699,000.00

Large South Brisbane Permanent Net $573k

South Brisbane

180

Permanent

$573,282.00

$2,637,096

Trendy Inner North Business Only

OTP

Wooloowin

Permanent

$216,886.00

$910,922.00

Robina Permanent Management Rights - Ticks all the Right Boxes

Robina

Permanent

$182,144.00

$1,488,600.00

City Centre - Four Minute Walk to Beautiful Golden Beach"

Caloundra

Short Term

$190,000.00

$1,585,000.00

Outstanding lease - 50 room motel in thriving motel town

Orange

Short Term

$480,000.00

$1,595,000.00

Off the Plan Management Rights

OTP

Geelong

Permanent

$350,886.00

$1,490,000.00

Brand New Lease

Leeton

Short Term

$239,525.00

$545,000.00

Trendy Tavern - Hub of the Community

Raglan

Short Term

$109,374.00

$350,000.00

Small Permanent 'Neat as a Pin' Management Rights Netting $77k

Labrador

Permanent

$77,000.00

$650,000.00

High End Sunshine Coast Permanent Management Rights

Parrearra

Mixed

$149,149.00

$1,451,000.00

Off the Plan Newstead - 147 units

OTP

Newstead

147

Permanent

$522,914.00

$2,365,987.00

Not One Day Rent Lost in Three Years!

North Lakes

Mixed

$217,000.00

$1,570,000.00

Top Combo in Popular Nundah!

Nundah

130

Mixed

$218,757.00

$1,934,000 to

A true performer that has withstood the test of time

Goulburn

Short Term

$535,716.00

$4,150,000.00

Little Gem in Runcorn"

Runcorn

Permanent

$71,765.00

E01

Easy As!!

Springwood

Permanent

$41,070.00

$505,650.00

Fabulous freehold going concern less than 2 hours from Sydney

Lithgow

Mixed

$206,830.00

$1,700,000.00

Magnificent Freehold Going Concern

Rockhampton

Permanent

$762,000.00

$6,600,000.00

Superb Holiday Management Rights - $550k Net

Gold Coast

Mixed

$548,000.00

$3,095,000.00

Beach Resort on an Island Connected by Bridge to the Mainland

Woorim

Mixed

$287,225.00

$1,923,000.00

Management Rights South Side

Mount Gravatt

Mixed

$72,000.00

$741,000

Excellent Freehold and Business Opportunity

Cardigan Village

Short Term

$194,885.00

$1,275,000.00

Freehold Seal Bay Resort - Kangaroo Island with Vendor Finance

Kingscote

Short Term

$133,173.00

$985,000.00

Luxury Off The Plan Beachfront Resort

OTP

Mooloolaba

Mixed

$584,269.00

$3,520,000.00

Rare City Fringe Management Rights

Ascot

Permanent

$135,000.00

$1,210,000.00

Absolute Beach Front Motel - Perfect Location

North Ward

Mixed

$155,836.00

$4,260,000.00

$1,795,000.00

$226,000.00 -

$404,903.00 -

$1,945,000.00

$425,000.00 $2,850,000.00 $4,800,000.00

resortbrokers.com.au

RELIEF MANAGERS

PLEASE NOTE: THIS IS SIMPLY A DIRECTORY SERVICE THAT WE PROVIDE TO ASSIST YOU, SHOULD YOU CHOOSE TO GO ON HOLIDAY OR TAKE A BREAK. WE RECOMMEND YOU INTERVIEW AND QUALIFY ALL MANAGERS YOURSELF BEFORE HIRING.

Barry & Lesley Roberts

Tony Payne

Belinda & David Gustafson

Motel Manager Nationwide

Motel Manager South East VIC

All Property Managers NSW & QLD

+61 40428 422 456

+61 429 998 044

+61 403 219 562

les.baz@bigpond.com

tonypayne2@bigpond.com

gustafsondavid@hotmail.com

Steve Reynolds

Llew & Trisha Pointon

Christopher Hillman

Management Rights Manager Brisbane and Gold Coast

Motel Manager Nationwide

Management Rights, Motels & Resort Managers Capital Cities, Australia Wide

+61 413 614 936

+61 400 035 359

+61 488 550 005

reynolds.steve50@gmail.com

llewp@tpg.com.au

christopher.hillman@bigpond.com

Garth & Trish Carey

Chris & Carmel Moloney

Maryanne & Geoff Cheeseman

Resort & Motel Manager QLD & NSW

Motel Managers Nationwide & New Zealand

All Property Types Nationwide

+61 421 359 059

+61 400 483 291

+61 410 662 963

garth@careynominees.com.au

ccmoloney-315@hotmail.com

cheezmg@bigpond.com

Grant & Kerry O'Sullivan

Nanette Mortimore

Peter & Janine Templeton

All Property Types QLD & NSW

Management Rights Manager Brisbane Area

Motels, Backpackers & Caravan Parks Managers Australia Wide

+61 404 473 100

+61 419 707 773

+61 408 178 130

grant2466@bigpond.com

nanette.mortimore@gmail.com

tempy7@bigpond.com

Peter & Pam Kotevski

Sharyn & Phillip Stallman

Paul & Jane Hansen

Motels, Caravan Parks & Resort Managers Australia Wide

Motel Managers Nationwide

Caravan Parks & Villa Managers QLD, NSW & VIC

+61 408 187 222

+61 428 931 589

+61 438 877 932

twopees26@yahoo.com.au

pjstal@bigpond.com

happycamperparkmanagement@gmail.com

resortbrokers.com.au

SOLD PROPERTIES

RESORT BROKERS AUSTRALIA HAS SOLD AND SETTLED 51 PROPERTIES SINCE THE 6TH JANUARY 2014. WE HAVE A FURTHER 64 PROPERTIES UNDER CONTRACT.

MANAGEMENT RIGHTS TENNERIFFE, QLD

FREEHOLD MOTEL MITTAGONG, NSW

INVESTMENT MOTEL INGHAM, QLD

SERVICED APARTMENTS LEASE WANTIRNA, VIC

MANAGEMENT RIGHTS THE GAP, QLD

MANAGEMENT RIGHTS BYRON BAY, QLD

MANAGEMENT RIGHTS SOUTHPORT, QLD

FREEHOLD MOTEL ARARAT, VIC

LEASEHOLD MOTEL COPACABANA, NSW

MANAGEMENT RIGHTS HOLLYWELL, QLD

FREEHOLD MOTEL HELENVALE, QLD

MANAGEMENT RIGHTS LAWNTON, QLD

LEASEHOLD MOTEL GLADSTONE, QLD

MANAGEMENT RIGHTS PORT DOUGLAS, QLD

SERVICED APARTMENTS LEASE SHEPPERTON, VIC

MANAGEMENT RIGHTS MARCOOLA, QLD

MANAGEMENT RIGHTS NUNDAH, QLD

SERVICED APARTMENTS LEASE ECHUCA, VIC

MANAGEMENT RIGHTS CALAMVALE, QLD

MANAGEMENT RIGHTS TASMANIA

FREEHOLD TOURIST PARK SCARNESS, QLD

LEASEHOLD MOTEL TAREE, NSW

MANAGEMENT RIGHTS STAFFORD, QLD

FREEHOLD MOTEL DELORAINE, TAS

MANAGEMENT RIGHTS NEW FARM, QLD

LEASEHOLD MOTEL HORSHAM, VIC

SERVICED APARTMENTS LEASE LAUNCESTON, TAS

MANAGEMENT RIGHTS PARKWOOD, QLD

MANAGEMENT RIGHTS RAINBOW BEACH, QLD

MANAGEMENT RIGHTS WEST END, QLD

LEASEHOLD MOTEL COOMA, NSW

MANAGEMENT RIGHTS TOOWONG , QLD

LEASEHOLD MOTEL URALLA, NSW

INVESTMENT TOURIST PARK DALBY, QLD

LEASEHOLD MOTEL CRESWICK, VIC

resortbrokers.com.au

AGENT PROFILE

IAN DORE NORTH NSW & GOLD COAST

OUR AGENTS PRIDE THEMSELVES ON THEIR LOCAL KNOWLEDGE. THEY EACH LOOK AFTER A GEOGRAPHICAL PATCH, AND GROW TO KNOW IT INTIMATELY. WE FEEL THIS ADDS GREATLY TO THE CONFIDENCE WITH WHICH A PROPERTY CAN BE SOLD. IN THIS FEATURE WE WILL GET SOME THOUGHTS ON THEIR LOCAL AREA AND WILL ALSO LEARN A BIT ABOUT THEIR PERSONALITIES. WHAT IS YOUR BACKGROUND? I have always worked in property - I truly love it! During the 1980s I was the CEO at Ray White's Project Marketing Group for 12 years. During this time the company forged national and international relationships with public companies, hotel and resort groups, property developers, receivers and bankers. I marketed and sold many and varied portfolios, often at record breaking price levels by travelling to all corners of the world. In December 1988 I founded my own property development group which successfully built four shopping centres, a commercial high-rise office building, several strata titled high rise residential apartment buildings, a beachfront tourist marina with retail and residential components, a security gated townhouse and villa project, several land subdivisions and a major Gold Coast theme park.

HOW LONG HAVE YOU WORKED AT RESORT BROKERS AUSTRALIA? Following a brief retirement stint in 2008 I relocated to the Gold Coast and in early 2010 joined Resort Brokers Australia to sell management rights, resorts, motels and caravan parks. I am now in my fifth year with the company. 68

resortbrokers.com.au

TELL US ABOUT YOUR MY AREA

WHAT DO YOU LOVE MOST ABOUT YOUR JOB?

My zone is located from Brisbane, through the Gold Coast and south to Coffs Harbour. It is predominately a vibrant coastal strip driven by tourism, corporates and families.

Initially, I feel tremendous achievement when I am able to marry a buyer with a property and work with them through to settlement. However, there is nothing like calling to see them three four months later and being greeted like a best friend that has helped them start off on an exciting new career path.

TELL US ABOUT AN ISSUE WITH A SALE THAT YOU HAVE OVERCOME AND WHAT YOU LEARNT FROM THAT? I regularly find that buyers are undecided or unsure as to what they are looking to purchase. For example, recently a couple enquired about a management rights business I was selling after attending a seminar for beginners. After qualifying their financial capacity and understanding they were able to make a purchase decision without selling their home, I showed them the business they enquired about. This was followed by a serious of questions which led us to show them a much larger management right business. After another week of answering questions they came back asking if they could inspect a motel lease I was selling. Exactly four days later we had inspected the motel and they had made an offer which the vendor accepted!

WHAT HAS BEEN YOUR BIGGEST SUCCESS SINCE STARTING AT RESORT BROKERS? It's hard to pinpoint one as there have been many along the way, but perhaps the one that springs to mind (due to the protracted negotiations) was the sale of the Horizons Resort in the Snowy Mountains to Rydges Hotels and Resorts.

WHAT ANNOYS YOU? People who don't speak the truth and professional lookers who cannot make a decision.

DO YOU HAVE A NICKNAME? Dorey

WHAT DO YOU DO IN YOUR SPARE

Head off to our beach house on South Stradbroke Island where I enjoy fishing and surfing, as well as overseas travelling which we do once year.

INDUSTRY SPECIALISTS est 1969

On site relief management for

owners of Management Rights Steve Reynolds 0413 614 936 LREA

Giving you experienced reliable professionalism

Laundry Machinery for Every Situation www.richardjay.com.au

in holiday relief to Management Rights owners

1300 RICHARD (742 427)

Expert management rights lawyers The team at Hynes Legal can assist you with all of your management rights needs. We are different, not in what we do, but in how we do it - fixed fees, returned phone calls, accessible lawyers, no billing surprises and more. Try Hynes Legal.

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The Management Rights Lawyers

Buying or selling Hotels Caravan Parks, Motels, Management Rights?

Servicing resident unit managers throughout Queensland and New South Wales

www.mahoneys.com.au 07 3007 3777 info@mahoneys.com.au Brisbane office L15, 167 Eagle Street Brisbane Qld 4000

Gold Coast office 235 Varsity Parade Varsity Lakes Qld 4230

Call (07) 3220 1144 or email@hillhouse.com.au

www.hillhouse.com.au

 Specialist Business Advisor to the Accommodation Industry  Specialist Business Advisor to the Accommodation Industry  Verifications Reports  Verifications Reports  Trust Account Audits  Trust Account Audits  Business Services  Business Services  Taxation Specialist Business Advisor to the  Taxation  SpecialistAccommodation Business Advisor to the Accommodation Industry Industry  Accounting  Accounting Verifications Reports Verifications Reports | Trust Account Audits | Business  Benchmarking Benchmarking Trust Account Audits

Services | Taxation Accounting | Benchmarking

Sunshine Coast Brisbane/Gold Coast  Business Services Sunshine Coast JohnCoast Siemon Brisbane/Gold Sam Hodgetts John Siemon Sam(07) Hodgetts  Taxation (07) 5474 8955 3421 3421 (07) 5474 8955 (07) 3421 3421  Accounting Email: cpa@mcadamsiemon.com.au Email: www.mcadamsiemon.com.au cpa@mcadamsiemon.com.au  Benchmarking www.mcadamsiemon.com.au ‘ALL PROFESSIONAL FEES QUOTED UP FRONT’ Sunshine Coast Brisbane/Gold Coast ‘ALL PROFESSIONAL FEES QUOTED UP FRONT’ John Siemon Sam Hodgetts (07) 5474 8955

(07) 3421 3421

Email: cpa@mcadamsiemon.com.au www.mcadamsiemon.com.au

Management Rights Specialists for all states of Australia Valuations and Property Advice Specialists in Accommodation Properties and Businesses Prepurchase advice, preparing for sale, rent assessment, and valuation panellist for a wide range of banks.

    

Associate Director

Buying & Selling Developer Setups Dispute Resolution Body Corporate Advice GST, Stamp Duty & Tax Col Myers 0417 620 516 www.smh.net.au

Owen Barbeler (07) 3620 7900

Owen Barbeler

‘ALL PROFESSIONAL FEES QUOTED UP FRONT’

Brisbane T: 07 3620 7900 E: owen.barbeler@m3property.com.au

LOOKING TO REACH THE ACCOMMODATION AND TOURISM INDUSTRY? WHY NOT ADVERTISE HERE. YOU WILL SEE A RANGE OF INDUSTRY SPECIALISTS ARE ADVERTISING IN OUR WIDELY READ INFORMER. CIRCULATION - 8,750 - MAILED HARD COPIES AND 15,650 - SENT DIGITALLY IF YOU WOULD LIKE A COMPANY ADVERT ON THIS PAGE PLEASE CONTACT: CARLA COOK: 0467 600 611 OR EMAIL US CARLACOOK@RESORTBROKERS.COM.AU Qualifications

Owen has worked in the valuation industry since 2002 and specialises in going concern valuations. Owen has experience across many types of accommodation properties including hotels, motels, resorts, student accommodation, management rights and affordable housing.

> Bachelor of Business Management (Real Estate and Development), University of Queensland > Associate of the Australian Property Institute (AAPI) > Certified Practising Valuer

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