Business ID: BS------
Ready To Thrive With the Returning of Events and Visitors to Melbourne – Expression of Interest
This is a multiple award-winning tourism and hospitality business that was thriving before COVID. As a pioneer within its niche, the business has grown over the years, benefiting from the multibillion-dollar developments in the city of Melbourne.
Within family ownership, the owner indicated that the business was generating annual revenues in excess of $5 million (pre-covid), and delivered very good cash flow.
The business was impacted by COVID over the last 2 years, and had continued to trade (where restrictions allowed), retained its core people, and introduced new products/services.
With the relaxing of trading restrictions on gathering of people for functions and events, the reopening of Australia’s state and national borders to visitors, there is growing excitement to see the rebound in entertainment, events, and visitors to Melbourne.
The elderly owner believes that it is time for a new visionary owner or investment group to take over. By taking a position in the business now, introducing new products/services will allow the business to benefit from the generally expected recovery in Melbourne’s tourism and hospitality industry post-COVID.
Business Highlights:
-Main sources of revenue (pre-COVID) were from tourist-oriented services associated with Melbourne’s major events calendar such as the Australian Open and Spring Racing Carnival. Private functions such as weddings, birthdays, Christmas, and New Year celebrations were also a major part of the revenue
-Annual revenue of over $5m pre-COVID
-Diverse services targeted at locals, tourists, and corporate customers
-Recognised industry leadership as winners of multiple tourism and hospitality awards
-Caters to multiple groups of sizes between 30 to 180 persons
-Substantial investment in improvement, assets, equipment of over $8 m made, and will cost more to replace today
-Good lease with a high barrier to new entrances
-Existing management team with experienced employees in place
-Management has plans for leveraging the existing assets and introducing new products/services to take the business beyond Pre-COVID levels
This business offers multiple long-term opportunities for the visionary owner of a Melbourne icon.
Please contact Broker to discuss further.
Expression of Interest – The owner is keen to exit and will consider all offers.
