New South Wales conference hotel sells again

Leura Gardens Resort in New South Wales, Australia, has sold for the second time in 12 months at a 25% premium, according to CBRE, with the Schwartz Family Company, Sydney, acquiring the Blue Mountains resort to strengthen its position as a regional leisure and conference provider.

Leura Gardens Resort consolidates the Schwartz Family Company presence in the Blue Mountains, joining the Fairmont Resort Blue Mountains and Leura Golf Club, all within a few minutes’ drive of each other.

Leura Gardens Resort is the 15th hotel in the Schwartz hotel network and was acquired for $25 million from the Elanor Hotel Accommodation Fund.

The recently refurbished Leura Gardens Resort is an expansive 92-room hotel set in four and a half acres of landscaped gardens. It offers a choice of studio, family, and self-contained apartments. Recreational facilities include a solar-heated outdoor swimming pool, fitness room, guest lounge, and on-site restaurant, with Leura Golf Course across the road.

Leura Gardens Resort is located a few minutes from the picturesque village of Leura, the gateway to the World Heritage-listed Blue Mountains National Park in New South Wales.

Leura Gardens Resort’s extensive grounds, multiple conference and events spaces make the property a popular function space. The hotel will now operate in conjunction. with Fairmont Resort and Leura Golf Course to offer one of the most comprehensive conference and event venues in regional New South Wales.

Dr. Jerry Schwartz said the hotel purchase was well timed with the announcement that the NSW Blues rugby team would establish a training base in the Blue Mountains, using the facilities at both the Fairmont and Leura Gardens.

The Schwartz Family Company was established in 1973 and has since grown to be a major investor in premium property in Sydney, Newcastle, the Hunter Valley, Canberra, Melbourne and the Gold Coast. The company has a portfolio of 15 hotels and over 4,300 rooms operated under brands including Sofitel, MGallery, Novotel, Mercure, Ibis, Rydges, and Hilton.