Lewis Land Group has added to its hotel portfolio, purchasing the freehold of the Mon Komo Hotel in Queensland’s Moreton Bay region. It’s the first pub acquisition for the group since December 2007, when it bought the Camden Valley Inn on the fringes of Sydney.
Since opening in 2011 on the Redcliffe shoreline, the Mon Komo Hotel has been an institution for locals, daytrippers and tourists alike. The award-winning hotel features numerous bars, dining options, as well as conference, meeting and wedding facilities, and is a 35-minute drive from Brisbane’s CBD.
Brad Jenkins, head of leisure at Lewis Land Group, said the purchase of the landmark venue marked a significant milestone for the group.
“We’ve been big admirers of the Hotel for a long time and we’re thrilled to bring it into the portfolio,” said Mr Jenkins.
“It’s a quality venue in all respects and in many ways, it sets the benchmark for hotel service and entertainment excellence.
The hotel was developed by Kyko Group as part of their multi-award-winning mixed-use Mon Komo development. Kyko Group director Bill Jenkings said the time was right to sell, as the company is now focusing on its office real estate portfolio.
“It’s been a great journey and we’re really proud that Mon Komo has become one of the iconic Queensland hotels. We really look forward to coming back to relax and enjoy a cold beverage on Mon Komo’s stunning terrace,” stated Jenkings.
The hotel sale was handled by Michael Simpson and Leon Alaban of Savills Australia.
Lewis Land Group CEO, Chris Calvert, said that the Mon Komo purchase was a strategic acquisition to build on the group’s existing presence in the south-east Queensland market.
“Lewis Land Group is committed as a long-term investor in the Moreton Bay region, which offers a perfect location for our outdoor, family focused venues. We are looking forward to strengthening our community involvement across our two venues at Redcliffe and Woody Point.
“We’re delighted to be the new custodians of such an iconic venue. The Hotel aligns perfectly with our core values of embracing the great Australian outdoors through the natural environment.”
The Mon Komo Hotel is located within a ten-minute drive of Lewis Land Group’s flagship Queensland venue, The Belvedere Hotel. Jenkins told Australian Hotelier that it was definitely a strategic purchase, but one that would not limit either venue.
“You get all of those synergies from having the businesses near each other, a few efficiencies that come into play. But we’ll be running them as their own hotels, and they’ll be competing as hard as they can against each other.
Jenkins also confirmed that the group is always on the lookout for other additions to its pub portfolio.
“We see the hotel sector still being pretty strong and we’ve got our own internal structures at work to add more assets on. So if anything presents itself that looks good that we think we can make work in the food, beverage and gaming space, then we’ll definitely entertain it.”
It’s been a big year for Lewis Land Group, which last night won Hotel of The Year Metropolitan at the AHA NSW awards for their north-western Sydney pub, The Fiddler. The group also opened a new Mercure hotel in partnership with Accor in The Fiddler’s entertainment precinct in August, and completed a $15m renovation of the Camden Valley Inn in mid-September.