11 Jun 2024
Words The Hotel Conversation

Gippsland corporate hotel Mansi on Raymond for sale with ResortBrokers for $13.1 million

The freehold going concern of luxury corporate hotel Mansion Raymond in Victoria’s Gippsland region is for sale for $13.1 million through ResortBrokers East Victoria broker Chris Boschetti and Managing Director Trudy Crooks.

The multi-award-winning independent hotel, located in the strategic town of Sale, is being offered to market for the first time since it opened in 2013.

Over its 11 years in operation, Mansi on Raymond has established a dominant position in the corporate guest market in Sale, a major service hub in Gippsland. The hotel has more than 250 active corporate clients, which comprise 73% of its occupancy.

The energy sector, RAAF and local government consist of over 60% of Mansi’s corporate clientele which has underpinned the hotel’s financial profitability. For FY24, Mansi has a projected net profit of over $1.3 million.

Mansi’s appeal to corporate trade lies in its flexibility. The hotel includes one heritage-listed cottage, several Georgian-style townhouses and studio apartments. Seven of the three-bedroom houses can be dual key, split into separate one- or two-bedroom lodgings and studios. Another 10 townhouses can be dual key, split into one-bedroom dwellings or studios. These flexible, self-contained accommodation options lend themselves to corporate guest stays for weeks or months at a time.

“This is a first-rate accommodation business in a strategic location,” says East Victoria broker Chris Boschetti.

“Mansi has set the standard in Gippsland for corporate stays. The hotel’s excellence has been recognised by the corporate guest market with its exceptional occupancy rates as well as industry awards from HotelsCombined, Booking.com and TripAdvisor. Last year, TripAdvisor ranked Mansi among its Top 10 hotels in the South Pacific.”

“The hotel’s location couldn’t be better. Sale has been key to Gippsland’s natural gas industry and is positioned to continue its importance as a pivotal centre for the region’s emerging green energy sector as one of the Victorian Government’s six Renewable Energy Zones.”

“As Sale is the base for contractors working on Gippsland energy projects, Mansi’s occupancy will benefit enormously from the switch to carbon-neutral sources. State government funding for renewables has been locked in for at least the next decade and is expected to continue well beyond that.”

“Given Sale’s importance to Victoria’s economic prosperity through energy and defence initiatives, this will be an astute purchase with a firm eye on the future,” says Managing Director Trudy Crooks. END