Hotel Cairns goes on the market
The Hotel Cairns has been put on the market via an Expression of Interest campaign.
CBRE Hotels are handling the sale of the 4-star hotel with a traditional ‘Queenslander’ style.
“There has been significant interest from hoteliers of late seeking to secure a foothold in the Cairns hotel market,” said CBRE Hotels’ National Director Wayne Bunz.
“This asset presents a rare Cairns CBD offering substantially below replacement value.
“As it is owner operated and is being offered with vacant possession, it will appeal to owner operators as well as hotel chains who are actively seeking to establish their brand in Cairns and can utilise their distribution networks, especially to tap into the record amount of international arrivals, especially Chinese visitors who are flocking to the city in record numbers each year.”
The 92-room hotel is close to Cairns Esplanade and features conference rooms, a leased restaurant, gym, pool and tour desk.
“The inner CBD Cairns hotel market is highly sought after, making this a fantastic opportunity to enter this tightly held market,” said CBRE Cairns Managing Director Danny Betros.
“The prominent location of the hotel and strength of the Cairns market is expected to underpin buyer interest."
Sheridan Randall, 7th August 2019
