Turnaround story for motels, hospitality’s Cinderella asset
The industry is booming off the back of a resurgence in domestic travel during the pandemic, with institutions and small investors pouring into the space.
Jason Raine, wife Eliza and their two-year old daughter Gigi at their property, The Mysa Motel. Paul Harris
Most Australians think of motels as drive-to-the-door, overnight pit stops in lesser-known regional towns, perhaps where parents took them as kids, lying on plastic banana lounges by the pool on hot summer days.
But the boom in these city-fringe assets that started with the post-COVID surge in domestic tourism has taken a new turn, driven by travellers opting for shorter breaks, the rise of “bleisure” – the blend of business and leisure travel – Instagram and influencer culture, and the rediscovery of nostalgic, retro-style motels.
Sarah PettyProperty reporterSarah Petty covers commercial and residential property markets for The Australian Financial Review, based in the Melbourne newsroom. Email Sarah at sarah.petty@afr.com
