Salter Brothers acquires luxury boutique hotel & estate portfolio in NSW
Press Release | March 21, 2023
Salter Brothers is pleased to announce the acquisition of Escarpment Group’s collection of five luxury boutique hotels and estates:
- Lilianfels Resort & Spa with 89 rooms
- Echoes Boutique Hotel, with 14 rooms;
- The Hydro Majestic, with 84 rooms;
- Parklands Country Gardens & Lodges, with 31 rooms; and
- The Convent Hunter Valley, with 19 rooms .
All properties are located in NSW, each of the five are unique to the Blue Mountains and Hunter Valley regions and provide an immersive journey through Australia’s most visited tourism destinations. The portfolio consists of 237 rooms in irreplaceable locations, all with significant landholdings and signature “hatted” restaurants such as Darley’s at Lilianfels and Circa 1876 at The Convent.
Paul Salter, Managing Director of Salter Brothers, said “Following the acquisition of Spicers Retreats and Lodges exchanged in December 2022, we are delighted to add to the Salter Brothers’ strategy of acquiring luxury assets in unrepeatable locations. These properties will complement our growing portfolio in this strategy and present us with significant opportunities for these assets as part of a broader platform.”
“I would like to thank our advisors MinterEllison, Ernst & Young, Napier and Blakely and Ethos Urban , for assisting in the transaction” he concluded.
Huong Nguyen and George Saad, founders of the Escarpment Group said “We have been investing and operating in the Blue Mountains, since 2004, so it was important for us to find a group that understands regional tourism and appreciate how unique the properties are. We look forward to seeing our legacy continue and to assisting Salter Brothers achieve their goals in the properties.”