Sydney pub owner Ken McCourt has paid $18.5m for the Imperial Hotel in Singleton, almost six times what it sold for less than four years ago.
are among those to buy hotels in regional towns this year including in Wagga Wagga, Port Macquarie and Narooma.
“Strongly performing regional hotels easily accessible from Sydney continue to attract the discerning eye of astute hoteliers and investors given their cash flow generation ability, consistent performance and growing local economies,” said JLL Hotels’ Kate MacDonald, who brokered the sale of the Impy alongside colleague Ben McDonald.Also heading into regional NSW is veteran Sydney developer Michael Koundouris. His K2 Property Development Group paid about $5.
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