Hotel Resort Sales has announced the successful completion of a major transaction involving the combined sale of three premier management rights businesses in Brisbane to Meriton Group, which is founded and led by legendary billionaire property entrepreneur, Harry Triguboff.
Acquired from Aurora Assets Management Group, the properties include Newstead Towers, Broadway on Ann, and Aqua Newstead comprising of over 710 lots.
Hotel Resort Sales, Craig & Rebecca Johnson
This multi-million-dollar deal represents a significant milestone in Brisbane’s rapidly growing accommodation sector and marks Meriton’s first acquisition in the management rights space in Queensland.
The landmark transaction underscores Hotel Resort Sales’ expertise in connecting leading operators with premium management rights opportunities.
The properties, situated side by side in sought-after inner-city Brisbane CBD, offer strong investment potential and align with Meriton Group’s strategic expansion in the region.
Newstead Towers
“This transaction highlights the ongoing strength of Brisbane’s management rights market and the confidence that top-tier investors have in its long-term growth,” said Craig Johnson, owner at Hotel Resort Sales.
“We are proud to have facilitated this deal and look forward to continuing our role as a trusted leader in the management rights industry throughout Queensland.”
Jon Elliot, Head of Operations at Meriton affirmed “These assets are a strong strategic fit for our portfolio, and we look forward to delivering long-term value for investors and residents. We’re actively looking for similar quality opportunities in Sydney, Brisbane and The Gold Coast.
For 60 years, Meriton has grown to become Australia’s largest and most successful residential developer, having built, sold, leased, and managed more than 77,000 residential apartments and mixed-use precincts across Sydney, Melbourne, Canberra, Brisbane, and the Gold Coast.
Hotel Resort Sales remains committed to delivering exceptional brokerage services, leveraging deep market knowledge to connect buyers and sellers for optimal outcomes.
Mandy Clarke has over two decades of experience writing about the accommodation and tourism industries and is an accomplished editor. She is the long-time former editor of AccomNews and the current editor of Resort News, two leading publications serving Australia and New Zealand's accommodation sector.
She previously spent almost 20 years as co-director of Multimedia Pty Ltd, helping shape the company into a trusted B2B content provider for the accommodation and education sectors in Australia and New Zealand. During this time, she oversaw high-quality print and digital content for key publications including AccomNews, Resort News, School News, and the property listing platform AccomProperties.
Her contributions to the industry have been recognised with the Female Leader Award at the Best of Tourism 2023 and the ARAMA Life Member Award in 2024.
