Wattlestone's Travellers Group has acquired Cityville Apartments & Motel in Rockhampton, enhancing its regional presence in the accommodation sector.

Target Information

Wattlestone is excited to announce that its regional accommodation platform, Travellers Group, has successfully completed its fifth strategic acquisition by securing Cityville Apartments & Motel located in Rockhampton, Queensland. This acquisition enhances Travellers' footprint in essential regional markets and showcases their commitment to investing in high-quality operational businesses. Cityville Apartments & Motel features 24 contemporary, self-contained apartments and motel rooms that cater to corporate, government, and leisure travelers. The property is situated in a prime location with strong local demand and significant potential for operational improvements.

Industry Overview in Australia

The Australian accommodation sector has seen substantial growth, particularly in regional areas, as demand for quality lodging continues to increase. As travelers seek unique experiences outside major metropolitan hubs, regional accommodations offer opportunities for diversification and enhanced guest experiences. This trend has spurred investments in properties that demonstrate robust performance capabilities while meeting the needs of both short-term and long-term visitors.

Queensland, specifically, stands out in the Australian hospitality industry due to its diverse attractions, ranging from coastal resorts to cultural landmarks. The local economy is increasingly reliant on tourism, with significant investm