Salter Brothers, an Australian global fund manager, has announced the growth of its luxury hotel portfolio, acquiring the Escarpment Group’s five boutique accommodation properties in New South Wales.
The collection of properties totals 237 rooms, and includes a selection of hotels and estates among two of the state's most visited regions, the Blue Mountains and Hunter Valley.
Lilianfields Resort and Spa, Echoes Boutique Hotel, The Convent Hunter Valley, Hydro Majestic Hotel, and Parklands Country Gardens and Lodges complete the purchase. Salter Brothers managing Director, Paul Salter said that the company is delighted to add the luxury assets in unrepeatable locations to its group.
“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, ” said Salter.
Each of the purchased accommodation venues include significant landholdings, including the selection of fine-dining restaurants such as Circa 1876 at the Covent Hunter Valley, and Darley’s Restaurant at Lilianfields Resort and Spa.
Escarpment Group Founders Huong Nguyen and George Saad said in a joint statement that finding a suitable owner for the properties was an important part of the deal.
“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,” said Nguyen and Saad.
“We look forward to seeing our legacy continue and to assisting Salter Brothers to achieve their goals at the properties.”
Since establishing this division of the group in 2015, Salter Brothers has been extending its holdings in the hotel industry at a rapid pace. The business recently purchased the Milton Park Country Hotel and Spa and Spicers Retreats and Lodges, and after the completion of this deal, will have a total of 36 hotels and accommodation facilities under its management.
