HTL Property Completes Sale of Iconic Wagga Wagga Hotel, Meeting Seller’s Price Expectations

On behalf of the Elanor Hotel Accommodation Fund, HTL Property, acting as exclusive agency, is most pleased to announce the successful off-market sale of Mantra Pavilion – Wagga Wagga.

The successful sale of Mantra Pavilion records HTL Property’s second sale announcement in as many months on behalf of its valued client; and following HTL’s sale of the ocean-front Ibis Styles in Port Macquarie on the NSW North Coast.

The Mantra Pavilion, a premier hotel located in the heart of Wagga Wagga offers 45-rooms, a ground floor restaurant with private dining room, conference facilities and bar.  The renowned hotel, clearly recognisable by its architecturally designed canopy, is a favourite for corporate and leisure guests alike.

The successful private investor, who wishes to remain anonymous, is set to bring fresh vision and exciting opportunities to the property; with plans to enhance the hotel’s offerings and further elevate the guest experience. This acquisition is expected to contribute positively to Wagga Wagga’s ongoing growth and appeal as a sought-after destination for both leisure and corporate travellers.

“We are thrilled to see the Mantra Pavilion transition to new ownership” advised HTL Property Director, Andrew Jackson.

“The sale of the Mantra Pavilion, at a price consistent with our client’s carrying book value, reinforces our position as market leaders within the sector; and highlights the benefits of HTL Property being able to leverage its extensive network so as to continue to deliver significant value to our expanding client base” Jackson added.

“Wagga Wagga has seen a significant increase in both occupancy and average daily rates, reflecting the growing demand and strong market performance in the region” commented HTL National Director, Andrew Jackson.

“The incoming purchaser is well-positioned to benefit from a prosperous future, underpinned by strong growth prospects indexed to an amplified population base and the region’s diversified economic drivers” concluded Jackson.

The sale of the Mantra Pavilion comes at a time of robust growth for Wagga Wagga, which has seen increased interest from investors and travellers alike. The property’s prime location and strong reputation within the market made it an attractive acquisition for the successful buyer.

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