One of North Queensland’s premier boutique hotels has put its management rights up for sale with price expectations of up to $6 million for the high-performing property.
The Port Douglas Peninsula Boutique Hotel, an adults-only retreat on the beachfront at Four Mile Beach, generates an outstanding net annual income of more than a million dollars through its luxury suites and popular restaurant.
With 33 newly decorated one-bedroom suites featuring beautifully furnished interiors with magnificent ocean and pool views from private balconies, the Peninsula Boutique Hotel boasts a high occupancy rate of 80 percent.
ResortBrokers Australia North Queensland specialist Chenoa Daniel says the exclusive listing is the “perfect” combination of an outstanding business and idyllic lifestyle.
“The Peninsula is the epitome of luxury which is beachfront and is quite simply one of the best properties in Port Douglas,” Daniel said.
“It’s the perfect opportunity for a savvy investor – a business which is generating great returns while offering the chance to live in one of the most enviable places in Australia.”
Management rights typically include the ability for an on-site manager to earn fees from letting out apartments and managing day-to-day services like checking in guests.
The management rights package for Port Douglas Peninsula Boutique Hotel comprises a 23-year letting and caretaking agreement. The value of a management rights business is generally calculated by applying a multiplier to its annual profit.
The property was voted number four in the 2019 Travellers’ Choice Top Hotels Award with TripAdvisor for the whole of Australia.
The Hi Tide Cafe-Bar-Restaurant is the only licensed restaurant in Port Douglas that overlooks the famed Four Mile Beach. It also complements the hotel operation, offering guests in-room and poolside dining options.
Port Douglas is a major destination within the Tropical North Queensland tourism region which, according to the latest figures, attracted total visitation of 2.9 million (YE Sept 2018), including 2.0 million domestic visitors (+14.9%) and 860,000 international visitors.