Salter Brothers extend hotel footprint in tourist hotspot

Global fund manager Salter Brothers will take possession of the landmark Hydro Majestic Hotel and the Lilianfels Resort in the NSW Blue Mountains.

The acquisition is part of a five hotel portfolio acquisition in a major off market deal. The purchase of the Escarpment Group’s boutique hotel and estate portfolio gives it 237 rooms across tourist hotspots in the Blue Mountains and Hunter Valley wine region.

The acquisition is said to be valued at well over $100 million, equating to around $500,000 per room.

Salter Brothers have been on an acquisition spree lately, snapping up the luxury Spicers Retreats from Flight Centre’s Jude Turner.

The Spicers retreats include Spicers Vineyards Estate in the Hunter Valley, Spicers Tamarind Retreat and Spicers Peak Lodge in Queensland. Along with Spicers Guesthouse and Spicers Sangoma Retreat in the Blue Mountains, Salters will have a huge footprint in the region.  

In its most recent acquisition, Salter Brothers will acquire the Escarpment Group’s 89 room Lilianfels Resort and Spa, the refurbished 84 room The Hydro Majestic Hotel, the 14 room Echoes Boutique Hotel, the 31 room Parklands Country Gardens & Lodges, and the 19 room The Convent Hunter Valley.

Hatted restaurants including Darley’s Restaurant at Lilianfels and Circa 1876 at The Convent Hunter Valley come as part of the package.

“Following the recent acquisitions of the Spicers Retreats and Lodges and the Milton Park Country Hotel and Spa, we are delighted to add to the Salter Brothers’ strategy of acquiring luxury assets in unrepeatable locations,” Salter Brothers managing director Paul Salter said.

“These boutique hotels and estates will complement our growing portfolio for this strategy and the assets present significant opportunities as part of our broader platform.”

Escarpment Group’s founders husband and wife hoteliers Huong Nguyen and George Saad said of the deal, “We have been investing and operating in the Blue Mountains since 2004, so it was important for us to find a group that understands regional tourism and appreciates how unique the properties are.

“We look forward to seeing our legacy continue and to assisting Salter Brothers to achieve their goals at the properties.”

Salter Brothers currently has 4,778 rooms across 19 hotels, making it one of Australia’s largest hotel owners in Australia.

Jonathan Jackson, 18^th May 2023