The Thai-based Minor Hotel Group has expanded its portfolio with a third hotel on the Gold Coast.
The hotel owner and operator have acquired the management letting and caretaking rights and freehold of the management lot of the Gold Tower located on the Gold Coast Highway.
It has subsequently rebranded the site under Minor International’s Oaks Hotels, Resorts & Suites brand, as the Oaks Gold Coast Hotel.
The 22-storey, 108-key hotel was recently refurbished and features meeting rooms, a swimming pool, and views of the new Jewel development and the Gold Coast’s beaches and hinterlands.
CBRE Hotels agents Wayne Bunz and Hayley Manvell handled the sale on behalf of a private Singaporean investment group.
“The Gold Coast remains a premier holiday destination for domestic and international visitors, and is expected to record increased inbound visitation,” Mr. Bunz said.
“Demand for quality hotel assets in leisure-orientated locations such as the Gold Coast has attracted strong interest from international investors.
“Australian hotels are seen as an absolute safe haven for international investors due to favourable investment conditions and record low-interest rates, while the low Australian dollar offers substantial value and favours inbound tourism.”
The Minor Hotel Group’s portfolio consists of 520 hotels in 52 countries, including existing Gold Coast assets the Oaks Calypso Plaza and Avani Broadbeach Gold Coast Residences.
“Oaks Gold Coast Hotel is Minor Hotels’ 63rd property within Australia and New Zealand, further enhancing the rapid expansion of the company within the region,” Mr Craig Hooley, Minor Hotels Chief Operating Officer, said.
“Within close proximity of Cavill Avenue, Oaks Gold Coast Hotel is the ideal base for those wanting to stay near the action while enjoying the comfort, freedom, and space of Oaks hospitality.”
