Rydges Gold Coast Airport Hotel has been acquired and settled by Star Hotels, a division of Star Group, Queensland’s largest independently owned and operated pub and liquor retail group.
The sale, for an undisclosed amount, follows an exclusive off-market, invitation-only campaign.
The airport hotel represents Star Group’s second hospitality investment on the Gold Coast and adds to its expanding portfolio, which includes 50 licensed venues, over 115 retail liquor outlets, and six accommodation venues across Queensland.
Developed by renowned hotelier John “Foxy” Robinson, the seven-storey hotel, which opened in 2020, includes 192 guest rooms and suites, the Runway Italian Restaurant, The Salty Fox Rooftop Bar, 10 conference and event spaces, a swimming pool, gym and ample parking.
The property will continue to operate as a Rydges hotel.
CBRE Hotels National Director Wayne Bunz, who facilitated the deal, said Gold Coast continues to demonstrate “remarkable resilience and growth as a top-tier investment destination”.
“The region’s thriving tourism sector, coupled with the irreplaceable location of the Rydges Gold Coast Airport Hotel, were key drawcards for Star Group, guaranteeing strong, consistent demand from both domestic and international travellers,” Bunz said.
“This investment aligns with Star Group’s strategic vision to expand its footprint in high-growth areas and will allow the group to capitalise on the Gold Coast’s dynamic hospitality market.”
The sale come amid an ongoing expansion of Gold Coast Airport, with the planned addition of a retail village, health and wellness hub, and conference and tech centre.
CBRE says the Gold Coast tourism market is currently benefitting from a surge in inbound international travel and that domestic tourism is expected to uphold Average Daily Rate (ADR) stability.