RACT portfolio including Freycinet Lodge and Cradle Mountain Hotel sold to NRMA.
The National Roads & Motorists’ Association (NRMA) has announced the acquisition of the Royal Automobile Club of Tasmania (RACT) tourism and hospitality portfolio.
The deal includes Freycinet Lodge, Gordon River Cruises, Strahan Village and Cradle Mountain Hotel, with the NRMA also announcing the creation of a new NRMA Expeditions division to “focus on strategically growing its investment in the tourism sector through acquisitions and partnerships”.
The new operation will be led by NRMA Chief Investment Officer Rachel Wiseman, who said the organisation believes domestic tourism will play a critical role in driving Australia’s post-COVID economic recovery.
“Tasmania, with its unique natural assets and sophisticated food and cultural offerings, will be central to this,” she said, adding: “NRMA Expeditions will focus on delivering 5-star experiences in natural environments and this is exactly what the RACT acquisition will deliver”.
RACT Group CEO Mark Mugnaioni said the organisation was pleased to hand over the keys of the iconic portfolio to a like-minded organisation, while the NRMA has committed to retain existing staff as part of the deal.
More details in tomorrow’s issue of Travel Daily.