Golden Square, Victoria

Two highly profitable Quest Apartment Hotels in Bendigo. | Resort Brokers ID : LH008587

$6,600,000

Business Description

Purchase separately or buy together and dominate the accommodation market in one of Victoria’s largest regional centres.

This is a fantastic opportunity to join Australia's largest and most successful apartment hotel brand in booming Bendigo, Australia’s fourth-largest regional city and newly crowned by Wotif as Aussie Town of the Year.
On offer are the franchises of two exceptional Quest hotels: the 60-apartment Quest Bendigo Central and 38-apartment Quest Bendigo.

Both are being sold separately, however, the vendor is open to these two businesses being purchased together.
Owning both Quest franchises would give the buyer scale at a total of 98 keys, operational consolidation, marketing synergies and a dominant position of corporate and leisure trade in different parts of Bendigo. Both hotels enjoy a complementary mix of mid-week corporate travellers and weekend tourists.

These businesses are highly profitable and have shown resilience in the sector, with strong trading figures in the first half of the new financial year.

Financial performance was underpinned by outstanding occupancy of 79% for Quest Bendigo Central and 81% for Quest Bendigo, far exceeding Melbourne’s average of 70% (Source: STR).

Occupancy is driven by the hotels’ first-rate quality and Bendigo’s status as one of Victoria's most beloved regional destinations.

With the support of Quest HQ to further enhance your growth potential and providing initial training and ongoing support throughout, this opportunity to secure two premium Quest businesses in a regional Victorian mainstay is not to be missed.

Quest Bendigo

- Located in the popular Golden Square
- 38-key property
- ADR of $208 and occupancy 81.3% for FY24
- Close to hospitals, basketball centre & industrial hub
- Conference room, laundry, pool & onsite parking

Quest Bendigo Central

- Located less than 1km from Bendigo's CBD
- 60-key property
- ADR of $200 and oocupany 79.4% FY24
- Long secure lease
- Conference room, pool and guest laundry
- Property Inspections are by appointment only
Date updated: 11 Feb 2025 22:00:02