Third time’s a charm: JLL secures mid-market success with Dubbo hotel sale
Dubbo’s Ibis Budget finds new investor as JLL closes another regional deal
JLL Hotels & Hospitality Group has successfully brokered the sale of the Ibis Budget Dubbo in New South Wales, marking the third consecutive mid-market accommodation sale in regional NSW this year. The property was sold on behalf of Iris Capital, who took advantage of the buoyant investment landscape to strategically divest the asset.
The Ibis Budget Dubbo, situated on a prominent 3,963sqm corner site, features 65 ensuited accommodation rooms. The property is complemented by an onsite restaurant, a swimming pool, and an expansive car park. With a current occupancy rate of approximately 75 percent, the hotel is well-positioned to benefit from the ongoing renewable infrastructure projects in the Central West area, which are expected to drive occupancy rates even higher.
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The sale was managed through a discreet off-market process by JLL Hotels specialists Greg Jeloudev and Andrew Langsford. The successful buyer, a private portfolio owner, plans to reposition the property to unlock further value.
Mr Jeloudev said: “Private capital continues to pour into the mid-scale accommodation market, particularly for assets with substantial value add opportunities. The Ibis Budget is ready for its next investment cycle, with the purchaser intending to reposition the current offering.”
Dubbo, a key regional city in Central West NSW with a growing population of over 38,000, is recognised for its robust agricultural sector, particularly in wheat and wool production. The city is also home to the internationally acclaimed Taronga Western Plains Zoo and is increasingly becoming a commercial hub in the region.
The sale of the Ibis Budget Dubbo follows JLL’s recent successful transactions of the Ten Dollar Town Motel in Gulgong and the Mantra Bathurst Hotel. These sales underscore the growing attractiveness of regional NSW as an investment destination, driven by substantial government-funded infrastructure projects and strong tourism appeal.
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