Another South-East Qld Hotel Sold by HTL Property

The Queensland pub market is off to a flying start in FY27 with another major hotel sale.

The waterfront Gold Coast Tavern at Benowa has changed hands, with renowned Sydney-based hoteliers JDA Hotels selling the venue to Irvin Hotels. This acquisition marks the eleventh Queensland hotel for the Irvin Hotels portfolio, which also includes three venues in New South Wales. HTL Property exclusively managed the off-market transaction.

JDA Hotels originally purchased the venue in 2011, then named the One50 Tavern, for a reported $12 million.

“We are saddened to be passing the baton, as this hotel has been an important part of our journey. However, we’re pleased to be handing it over to Joe Irvin and his team. Having known the highly regarded Sydney hotel family for some time, we have every confidence they will continue to build on its success and take the hotel to the next level,” said JDA CEO John Feros.

“Over the past 24 months we’ve been very active, continuing to assess opportunities to acquire high-quality hospitality assets while also considering strategic divestment opportunities such as this when the right circumstances present themselves,” Feros added.

Irvin Hotel Group had been looking to South East Queensland for some time to complement and fill the geographical gap between their existing hotels, The Coolangatta Sands on the Gold Coast and the Homestead Tavern in Brisbane’s inner northeast” noted HTL Property Queensland Director, Glenn Price. “The Queensland pub sector has remained resilient with venues trading at levels that often exceed the previous 12 months”.

This transaction closely follows HTL Property’s announcement last week regarding the sale of The Maddison Tower Mill Hotel in Brisbane’s Spring Hill for nearly $30 million. HTL Property is also currently managing the sale of two other waterfront venues: The Cove Tavern at Sanctuary Cove on behalf of Mulpha, and the Merewether Surf House in Newcastle, NSW. Marketing campaigns for both properties are nearing completion, with further announcements expected in the coming weeks.

“Waterfront venues around Australia always pique interest from hoteliers” said Daniel Dragicevich, HTL National Director.

“The rarity of venues meeting these criteria means they are highly sought after. When you combine a multi-faceted venue featuring strong food, beverage, and gaming trade with the intrinsic value of the real estate, they tend to command a premium within the sector”.

Additionally, HTL Property Managing Director Andrew Jolliffe suggested that proposed federal government changes to tax laws surrounding capital gains and family trusts have driven an increase in long-term individual operators looking to exit the industry before these regulations take effect.

“Both JDA and Irvin Hotel Group are long-term, valued clients of HTL Property, and we congratulate them both on this successful sale and acquisition” added Jolliffe.

End.