Waratah Hotel Group snaps up Roma’s Royal
The Royal on Ninety-Nine in Queensland’s Manaroa Region has been acquired by the Waratah Hotel Group.
The Roma pub is located in the town’s centre, roughly 480 km west of Brisbane. The hotel was discreetly offered to a select group of operators just prior to the COVID-19 shutdown by Leon Alaban of Savills Australia, on behalf of sellers The Garvie Group. Waratah Hotel Group made the most compelling offer, which both parties made work in the context of the COVID-19 crisis.
“At a time of much uncertainty, both parties continued to work through negotiations and that ultimately led to a successful conclusion of sale,” stated Alaban.
“We are extremely grateful of the vendo’s for entrusting us with the freehold going concern sale of this impressive venue.”
The prominent corner site totals 730 sqm, and the two-storey building comprises a sports bar, bistro and café, gaming room with 18 EGMs, lounge bar, function room, children’s games room and geer garden.
The Garvie Group purchased the site in 2015, after a fire had razed the previous pub building. A new hotel was built, which was completed in mid-2016.
“This iconic hotel is here to stay; supporting, supplying and serving the Maranoa region and is the perfect example of our beloved Aussie mentality and refusal to be beaten down no matter what life throws at us,” stated Alaban.
Roma is currently enjoying a lot of growth from a well balanced mix of trade. It is considered to be the largest cattle sale yards in the Southern Hemisphere regularly selling 5,000–8,000 and up to 15,000 head per week. Oil and gas continue to be an economic benefit the town, with increased levels of both exploration and development in recent years. It is also easily accessible via air, rail and road from Brisbane.
Consequently, an increase in demand for services to the industry within the region is attracting new businesses to the town, and therefore providing expansion opportunities to all existing businesses.
The purchase is the latest sign that Waratah Hotel Group is solidifying its presence in regional Queensland, as it also owns the Tandara Hotel Motel in the Mackay Region. The majority of its portfolio is based in regional New South Wales with venues in Wagga, Moree and Lismore.