No Baggage for Porter as HTL Sells the Moss Vale Hotel
The Moss Vale Hotel in the Southern Highlands has been sold to a Sydney-based hotelier seeking to relocate his family to the region.
The hotel was placed on the market last month by local identity Tom Porter, who has owned and operated the hotel for the better part of 35 years. Porter cited his impending retirement and a desire to spend more time travelling the world as his rationale for the sale of the hotel.
"My family and I have thoroughly enjoyed our 35 years at the Moss Vale Hotel" advised Tom Porter.
"A lot of blood, sweat and tears goes into owning and operating a hotel for this length of time" added Porter.
"Accordingly there are countless happy moments and memories attached to this place for my family, however it’s time for us to pass the torch onto someone else and we’re delighted that that person is a successful hotelier" Porter concluded.
The hotel was exclusively listed for sale by HTL Property’s Blake Edwards and Sam Handy, with the agents advising that the hotel sold after a competitive on-market campaign which attracted strong interest from both local and Sydney based hoteliers; consequently yielding several offers to purchase.
"Whilst we were anticipating a strong degree of local interest in the Moss Vale Hotel, we fielded plenty of interest and several offers from Sydney, Canberra, Queanbeyan, Wollongong and Goulburn; which again underscores the fact that demand is still prominently outstripping supply for quality assets such as this one" advised HTL Property Director, Blake Edwards.
The agents for the sale wouldn’t be drawn upon as to the successful sale price for the hotel, other than to say that it sold in line with market guidance offered by HTL over the course of the five week sale campaign.
HTL Property, 1st August 2022
