The Mercure Rockhampton Hotel and adjacent development site will be put up for sale in the next few weeks due to increased interest in regional Queensland investments. CBRE Hotels on behalf Fifty Group is managing the sales.
Hotel Features and Performance
The hotel occupies an expansive 4,657sqm parcel of freehold land in the CBD. The hotel has 74 rooms, a meeting and conference centre, Riverside Restaurant and recreational facilities including a pool, gym, ample on-site parking and a detached manager’s home with two bedrooms. This hotel is the only Accor branded hotel in the area with no current or foreseeable competitors. It’s being sold with vacant possession.
Recent renovations of bathrooms, guest rooms and exteriors as well as common areas cost around $4m. The hotel’s EBITDA was over $2m by 2024 with 84% occupancy, and a $183 average daily rate.
Potential Development Site
A parcel of land measuring 1,447sqm is located next to the hotel. This parcel, subject to approval by the council, has potential to be developed into a commercial, residential, or retail sector. This land could be used to expand or renovate the hotel.
Economic Momentum and Investment Opportunities
Hayley Manvell of CBRE Hotels described the sale as a great investment opportunity. This is especially true since the region was announced as one the future Olympic venues. The hotel’s full-service offer and strong financial performance drive performance in multiple income streams including rooms, conferences, and the restaurant.
Expressions of Interest for the Mercure Rockhampton, and its adjacent development site, will launch in the next few weeks.
Contact CBRE Hotels for more information. Hayley Manvell The following are some examples of how to get started: Wayne Bunz.
