The Rydges Esplanade Resort Cairns features an enviable location along the CBD’s main thoroughfare of Abbott Street, bounded by both the private and public hospitals. In addition to servicing the city’s medical demand, the Hotel is centrally located to the Cairns CBD and tourism attractions, including the recently opened $54 million Cairns Aquarium, Cairns Convention Centre, Cairns Marina and Cairns Esplanade Lagoon.
The recently upgraded 4-star property offers 242 spacious guest rooms, a full-service restaurant and bar, flexible meeting space and extensive recreational facilities including a gymnasium, two tennis courts and a lagoon-style swimming pool. The offering also includes the management rights in the adjoining residential apartment building and management of the 196 car parking spaces.
The acquisition of the Rydges Esplanade Resort Cairns provides a new owner with the opportunity to enter one of Australia’s strongest Revenue per Available Room “RevPAR” growth markets (+4.5% Year-to-date June 2018), with a well-established operation providing a superb foundation for future growth. Additionally, a multitude of incremental investment opportunities exist at the property providing further upside to room revenues and ancillary income streams.