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NRMA purchases Tasmania’s Freycinet Lodge and Cradle Mountain Hotel

NRMA purchases Tasmania’s Freycinet Lodge and Cradle Mountain Hotel
March 24, 2021

NSW motoring organisation the NRMA has announced its acquisition of Freycinet Lodge and Cradle Mountain Hotel, along with Gordon River Cruises, from the Royal Automobile Club of Tasmania (RACT).

The $130 million purchase of the high-profile Tasmanian tourism properties, reflects the NRMA’s confidence in the market and adds the new acquisitions to the NRMA’s $800 million portfolio of tourism assets comprising a national network of holiday parks and a 46% stake in the Cairns-based Coral Expeditions cruise line.

According to a report in the Australian Financial Review, the acquisitions will become part of a new division, NRMA Expeditions, which will be led by NRMA Chief Investment Officer Rachel Wiseman.

Adelaide newspaper The Advertiser suggest that a significant portion of the NRMA’s investment will be devoted to the upgrade and renovation of Freycinet Lodge, Cradle Mountain Hotel and Strahan Village.

The deal positions the NRMA as one of Australia’s largest transport and tourism operators, with Wiseman understood to be looking at growing its investment in the tourism sector through acquisitions and partnerships.

Commenting on the acquisition, Wiseman stated “international travel will likely be a way off for Australians and we believe domestic tourism will play a critical role in driving Australia’s post-COVID economic recovery. Tasmania, with its unique natural assets and sophisticated food and cultural offerings, will be central to this.

“NRMA Expeditions will focus on delivering five-star experiences in natural environments and this is exactly what the RACT acquisition will deliver.”

Image: Freycinet Lodge, Freycinet National Park, Tasmania.

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11th March 2021 - ATIC says tourism package will fail to stem major tourism job and business losses

10th March 2021 - Federal Government set to subsidise flights in tourism support package to replace JobKeeper

2nd February 2021 - Tasmanian Government helps tourism attractions with insurance contributions

7th January 2021 - Tasmanian Government helps fund return of events in 2021

21st November 2020 - Tasmanian Government commits $20 million for Port Arthur Historic Site

7th October 2020 - Tasmania receives funding for thermal efficient huts on overland tracks

25th August 2020 - Reconstruction of bushfire damaged Tasmanian Parks infrastructure to support local industry

26th July 2020 - New energy efficient hut opens on Cradle Mountain’s Overland Track

21st July 2020 - Blacktown City Council partners with NRMA Insurance to shade playgrounds

22nd June 2020 - Cradle Mountain visitor centre officially opens

2nd December 2019 - Tasmanian Planning Commission rejects Chinese-backed consortium’s plans for resort overlooking Freycinet National Park

13th August 2019 - Visitor amenities enhanced at Tasmania’s Freycinet National Park

14th September 2018 - NRMA continues tourism portfolio expansion with six new holiday parks

6th May 2018 - NRMA continues tourism portfolio expansion with addition of Echuca Holiday Park

20th June 2017 - NRMA expands holiday park operations with acquisition of Australian Tourist Park Management

6th May 2017 - Rising visitor numbers create need for solutions at crowded Freycinet National Park

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