NRMA spends $130m on resorts, cruise businesses
The NRMA has spent $130 million on three Tasmanian resorts and Strahan’s Gordon River Cruises business.
The deal, with Royal Automotive Club of Tasmania, also includes a 46 per cent stake in the Cairns-based Coral Expeditions enterprise.
A new division, NRMA Expeditions, will hold the hotels – Freycinet Lodge, Cradle Mountain Hotel and Strahan Village – which will be renovated into five-star resorts.
According to The Australian, the lions share of the $130m outlay will go toward the repositioning.
The NSW car and travel club holds more than 40 tourist accommodation assets – a portfolio worth more than $800m.
It was an active purchaser last year – in December, it acquired Phillip Island’s Cowes Foreshore Tourist Park, which has since been rebranded (story continues below).
The organisation also enters into business partnerships.
“International travel will likely be a way off for Australians and we believe domestic tourism will play a critical role in driving Australia’s post COVID-economic recovery,” NRMA chief investment officer Rachel Wiseman told The Australian.
“Tasmania, with its unique natural assets and sophisticated food and cultural offerings, will be central to this,” the executive added.
Eleven months ago, Spirit of Tasmania’s operator TT-Line signed a 30-year agreement to dock at Corio Quay, near Geelong.
