A global fund manager is the new owner of the Spicers Retreat brand and several of the resorts, including two in the Sunshine Coast hinterland.
Salter Brothers has acquired the business and six of the 10 resorts from Jude Turner, who founded the award-winning chain more than 20 years ago.
Salter Brothers issued a press release, announcing the acquisition of the business and resorts, including Spicers Clovelly Estate at Montville and Spicers Tamarind Retreat at Maleny, along with Spicers Peak Lodge on the Gold Coast, Spicers Guesthouse and Spicers Vineyards Estate in the Hunter Valley and Spicers Sangoma Retreat in the Blue Mountains.
There are 127 rooms throughout the acquired portfolio and all retreats are within a two-hour drive of Sydney or Brisbane.
The Private Collection by Spicers business is also included in the acquisition.
The Managing Director of Salter Brothers, Paul Salter, was delighted to take over.
“This is an exciting acquisition and a great fit for our strategy to acquire unrepeatable assets in amazing locations, targeting the luxury retreat market, which continues to grow globally,” he said.
“We know Australians love to take short breaks at home and regional areas are leading the charge, with domestic occupancy rates well above pre-pandemic levels.
“The Spicers Retreat brand is well-established, and we are proud to continue Jude Turner’s vision for personalised ‘relaxed luxury’ experiences.
“Salter Brothers also shares Spicers passion for the environment and will continue their vision to become Australia’s most sustainable organisation.
“In delivering these experiences across the entire Spicers portfolio we will manage for the Turner family the two urban retreat assets, Spicers Potts Point and Spicers Balfour Hotel, as well as Spicers Hidden Vale and Spicers Scenic Rim Trail in Queensland along with the recently renovated Spicers Tower Lodge, which is owned by the Hope family.
Ms Turner said she had relished her journey with the brand.
“Spicers Retreats has been a labour of love for me, and everyone involved, for over 20 years,” she said.
“I’m pleased to see it going into the hands of someone equally passionate about Australian experiential stays.”
The Australian Financial Review reported that the acquisition was for an unconfirmed sum believed to be $130m. The acquisition is expected to be completed early next year.
Spicers told Sunshine Coast News that “its’ business as usual at Spicers Tamarind and Spicers Clovelly” and that the day spa that was gutted by fire at Spicers Tamarind “was fully insured and will be rebuilt.”
Article source: Queensland Property Investor