Fund manager Salter Brothers purchases the Spicers brand plus three Queensland properties and three NSW regional hotels.
Long-time suitor Salter Brothers today finalised a deal to purchase the Spicers Retreats brand founded by Flight Centre’s Jude and Graham Turner, in an acquisition believed to be worth around $130 million.
The purchase includes Spicers Clovelly Estate, Spicers Tamarind Retreat and Spicers Peak Lodge in Queensland, as well as Spicers Sangoma in the NSW Blue Mountains plus Spicers Guesthouse and Spicers Vineyard Estate in the Hunter Valley.
The Turners will retain ownership of the group’s city hotels in Sydney and Brisbane as well as Spicers Hidden Vale and Spicers Scenic Rim, and will manage them jointly with the fund manager.
Salter Brothers said “we’re interested in regional hotels, and these are unrepeatable properties in amazing locations…the intention is to continue to grow the brand by adding new properties”.
The group’s hospitality portfolio already includes 19 hotels including the Hyatt Regency Brisbane and The InterContinental Melbourne, The Rialto.
More details in tomorrow’s issue of Travel Daily.