Investment firm Salter Brothers is continuing to expands its portfolio of high-end properties, having rubber-stamped a deal to purchase Escarpment Group’s collection of five boutique hotels and estates.
The agreement spans the Blue Mountains and Hunter Valley quintet of Lilianfels Resort & Spa, The Hydro Majestic Hotel, Echoes Boutique Hotel, Parklands Country Gardens & Lodges and The Convent Hunter Valley.
The collection adds nearly 240 keys to Salter Brothers’ room inventory in Australia.
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Each of the New South Wales-based properties provides an immersive journey through some of Australia’s most visited tourism destinations. All have significant landholdings and signature “hatted” restaurants such as Darley’s Restaurant at Lilianfels Resort & Spa and Circa 1876 at The Convent Hunter Valley.
Paul Salter, Managing Director of Salter Brothers, said “Following the recent acquisitions of the Spicers Retreats and Lodges and the Milton Park Country Hotel and Spa, we are delighted to add to the Salter Brothers’ strategy of acquiring luxury assets in unrepeatable locations.
“These boutique hotels and estates will complement our growing portfolio for this strategy and the assets present significant opportunities as part of our broader platform.”
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 appreciates how unique the properties are.
“We look forward to seeing our legacy continue and to assisting Salter Brothers to achieve their goals at the properties.”
Salter Brothers also owns 22 hotels across Australia and the US operating under brands including InterContinental Hotels & Resorts, Hyatt Regency, Crowne Plaza, Mercure, Holiday Inn and Ibis.