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Two highly profitable Quest Apartment Hotels in Bendigo. | Resort Brokers ID : LH008587
$6,600,000
Hotel hospitality, BENDIGO VIC
Purchase separately or buy together and dominate the accommodation market in one of Victorias largest regional centres.
This is a fantastic opportunity to join Australia's largest and most successful apartment hotel brand in booming Bendigo, Australias fourth-largest regional city and newly crowned by Wotif as Aussie Town of the Year.
On offer are the franchises of two exceptional Quest hotels: the 60-apartment Quest Bendigo Central and 38-apartment Quest Bendigo.
Both are being sold separately, however, the vendor is open to these two businesses being purchased together.
Owning both Quest franchises would give the buyer scale at a total of 98 keys, operational consolidation,marketing synergies and a dominant position of corporate and leisure trade in different parts of Bendigo. Both hotels enjoy a complementary mix of mid-week corporate travellers and weekend tourists.
These businesses are highly profitable and have shown resilience in the sector, with strong tradingfigures in the first half of the new financial year.
Financial performance was underpinned by outstanding occupancy of 79% for Quest Bendigo Central and 81% for Quest Bendigo, far exceeding Melbournes average of 70% (Source: STR).
Occupancy is driven by the hotels first-rate quality and Bendigos status as one of Victoria's most beloved regional destinations.
With the support of Quest HQ to further enhance your growth potential and providing initial training and ongoing support throughout, this opportunity to secure two premium Quest businesses in a regional Victorian mainstay is not to be missed.
Quest Bendigo
- Located in the popular Golden Square
- 38-key property
- ADR of $208 and occupancy 81.3% for FY24
- Close to hospitals, basketball centre& industrial hub
- Conference room, laundry, pool& onsite parking
Quest Bendigo Central
- Located less than 1km from Bendigo's CBD
- 60-key property
- ADR of $200 and oocupany 79.4% FY24
- Long secure lease
- Conference room, pool and guest laundry
- Property Inspections are by appointment only
Date updated: 02 Mar 2025 22:00:04
More Information
- Total Purchase Price: $6,600,000
- Net Income: $ 1,594,716
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?