THE beloved Hydro Majestic at Medlow Bath is just one of several Blue Mountains properties which have recently been sold to the Salter Brothers for an undisclosed amount.
Lilianfels Resort & Spa and Echoes Boutique Hotel at Katoomba, as well as Parklands Country Gardens & Lodges at Blackheath, were also sold to the Melbourne-based group – the same investors who purchased the Spicers Retreat brand in December last year.
The major hotel sale also included The Convent in the Hunter Valley, with all properties previously owned by husband and wife Nguyen and George Saad through their company Escarpment Group.
The portfolio consists of 236 rooms across the five boutique hotels and estates, which are unique to the Blue Mountains and the Hunter Valley regions of NSW. The couple have made huge investments on refurbishments in the last decade, including $30 million on the Hydro Majestic in 2014.
Nguyen Saad told the Blue Mountains Gazette that “we have been investing in the region for nearly 20 years and while we really enjoyed our journey and feel privileged to have been in charge of all this, we think that…we need to slow down a little bit”.
Saad added that she was confident the properties have “gone into good hands”, citing the Salter Brothers focus on “hospitality and hotels in particular”.
Pictured: Hydro Majestic (credit: Visit NSW).