John Lewis is the latest Sydney publican looking to leverage into the accommodation market, snapping up the Top300 Ramada Hotel & Suites in gaming heartland Cabramatta for around $39 million.
The Hotel is in Lansvale, on the Hume Highway in Sydney’s south west, 27 kilometres from the CBD, and comprises an integrated complex across a large 8,035sqm site.
It offers public bar and outdoor sports lounge, restaurant Milano Grill & Bar, gaming room with 25 EGMs, onsite parking, conference spaces and over 80 four-star accommodation rooms, with recreational facilities.
The Suites, branded Ramada By Wyndham Sydney, provide one- and two-bedroom apartments and luxury spa suites for both short and long stays, with access to the gym/fitness centre and swimming pool, 24-hour reception, free Wi-Fi, laundry, daily breakfast and room service.
The gaming room bar and TAB, and VIP lounge, enjoy late-trading to 4am Monday to Thursday and 6am Friday and Saturday nights, currently ranked #268 in the Liquor & Gaming list of NSW pubs – down from #183 mid-2020.
Turmoil in the accommodation industry, largely brought about by the disruption in international tourism, has prompted more publicans to consider the merits of integrated pub and accommodation assets, such as the Ramada.
Actively pursuing opportunities in this area saw Sam Arnaout take the entire Accor IBIS portfolio for $180 million last November, then Rafferty’s Waterfront Resort at Lake Macquarie for $10 million in February this year, and most recently the Lassiter casino Alice Springs in April for around $105 million.
Similarly, the Gravanis brothers’ Oscars Hotels bought the resort-style Beachie Hotel in March, from David Kingston.
Lewis Hotels hold a strong collection of south and western Sydney pubs, and the diverse Hotel & Suites will represent something of a new direction for the group.
The Ramada has been owned for many years by private owners, who hold no other hospitality assets.
The freehold going concern sale was brokered by JLL Hotels, which did not offer details.
