Landmark Peppers Fairmont Resort Blue Mountains For Sale

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. October 14, 2008

SYDNEY, Australia, November 2, 2005. On behalf of Hotel Capital Partners, Jones Lang LaSalle Hotels has been appointed to market for sale the landmark Peppers Fairmont Resort. Located on the escarpment, adjacent to the World Heritage listed Blue Mountains, the 4.5 star Resort comprises 210 rooms and is one of the major conference and getaway resorts in the Outer Sydney tourism region.

Located less than two hours drive from Sydney, the Resort offers a broad range of conference and breakout facilities including 11 conference rooms and five break out rooms, two restaurants, bars and extensive recreational facilities.

Having completed a refurbishment in July 2004, the Resort presents to a high standard. "Underpinned by a good cash flow, an incoming purchaser can enjoy the benefits of the refurbishment but also have the opportunity to further enhance trading with strategic expenditure focussed on the recreational facilities and the food and beverage offering," said Mr Geordie Clark, Managing Director, Jones Lang LaSalle Hotels.

The Resort enjoys an enviable reputation and a distinct competitive advantage through its spectacular location and extensive recreational facilities. "The sale offers an excellent opportunity for investors to purchase a major resort with significant upside potential at a discount to replacement cost," said Mr Clark.

Deferred development consent has been granted for an additional 80 apartments on the unique 9.4ha site comprising 18 one bedroom apartments and 62 two bedroom apartments. "The development upside would be very appealing to an investor or developer seeking to capitalise on the Resort's unique location," said Mr Mark Durran, Senior Vice President, Jones Lang LaSalle Hotels.

Trading performance for the property can be enhanced through the positive outlook for tourism over the short to medium term. "The Tourism Forecasting Committee (TFC) have revised forecasts and now expect inbound growth of 5.1% over the next decade," said Mr Durran. For the year ended June 2005, international arrivals to Australia increased by 6.3% to reach 5.0 million visitors - while international visitor nights to hotels, motels, resorts and serviced apartments increased by 11.2%.

In the first nine months of 2005, total hotel transactions in Australia have exceeded $1.2 billion. "Given the fact that a resort of this magnitude is unlikely to be duplicated in this World Heritage location, we expect to receive strong interest from local, regional and international investors and developers," added Mr Clark.

Peppers Fairmont Resort is being offered for sale by an Expressions of Interest campaign (if not sold prior) closing Thursday 15 December 2005. For further information, please contact the exclusive agents Mr Geordie Clark on +61 2 9220 8778 or Mr Mark Durran on +61 2 9220 8793.