The picturesque Snowline Hotel is on the market, looking to capitalise on the booming region and investor push to the bush.
The Hotel Motel is located in Harrietville, Victorian high country, at the base of Mount Hotham.
Within easy reach of the capital and only a 20-minute drive from bustling Bright, the area is becoming a popular holiday destination, benefiting from year-round tourism.
Relaxing on a generous 3,315sqm lot, the Snowline holds a 1am general licence and offers bars, dining, large indoor and outdoor areas and 16 well-appointed accommodation rooms, reporting excellent occupancy.
Upside opportunities include the potential to further develop and increase the trading footprint (STCA), as well as introduction of other tourism-attracting features, such as brewing, distilling, or coffee.
For the past 14 years it has been owned and operated by Bennett Mountjoy and his wife Anna, who have worked to streamline the business operation, boasting a strong staff line-up and management team and automated systems, allowing them to step back from the day-to-day operations in recent years.
The turn-key operation further increases the business’ potential and proposition, taking in investors and owner-operators.
The Mountjoys looked to divest the property at the end of 2019, but sale was hampered by the onset of the 2020 bushfires and subsequent pandemic. The couple are now ready to again test the market, at a time when its prospects are stronger than ever.
“The area – Bright and surrounds – have become a tourism mecca,” says Bennett. “The lifestyle factor is a real drawcard.”
Snowline Hotel takes in multiple income streams, with weeks during the past summer surpassing $100k in revenue.
It’s anticipated the asset will sell for north of $2.75 million.
“The Snowline benefits from the High Country’s now all year-round tourism industry,” reports CBRE Hotels’ Mathew George.
“It is a short drive from Bright, which is an area that has experienced exponential growth, underpinned by an influx of both permanent residents and holiday makers.”
The freehold going concern of the Snowline Hotel Motel is being sold via Expressions of Interest, closing Wednesday, 16 March.
