ARL Commission acquires accommodation properties in Port Macquarie and Brisbane as asset base grows to nearly $110m

The financially-flying NRL has purchased two more prominent hotels across both NSW and Queensland, a move that comes as part of a bold plan to grow their asset base to a whopping $300m.

The financially-flying NRL has built its asset base to nearly $110m after buying hotels in Port Macquarie and Brisbane this week.

It is part of the NRL’s bold move to establish an asset base worth $300m.

The ARL Commission acquired the Ibis Styles Hotel in Port Macquarie for $15.5m and a Mantra Hotel in Brisbane for around $22m.

Unbelievably, the game was on the brink of insolvency when the NRL competition shut down during Covid just four years ago.

“The game has never, ever been in a stronger financial position. Like all smart businesses, you need to diversify your income streams and the NRL is doing that,” said Raiders chief executive Don Furner.

The ARL Commission has bolstered their asset base with some big-money purchases. Picture: Richard Dobson

The NRL has already purchased:

- Mercure Kawana Waters on Queensland’s Sunshine Coast for $20m.

- Quest Hotel in Sydney’s Woolooware for $20m.

- Gambaro Hotel – rebranded the Beetson Hotel – in Brisbane for around $30m.

Gambaro Hotel in Brisbane is among the properties already purchased by the NRL. Picture: Supplied

“This continues our objective to have $300m in revenue-generating assets,” said ARL Commission chairman Peter V’landys.

“We have (just) bought two hotels – the Ibis and Mantra in Brisbane. We now have five hotels.

“The game was exposed during Covid as having no assets and we needed to correct that as a matter of extreme urgency.

“We are doing that slowly by trying to get really good priced investments that are basically under the market value, and that’s what we have been doing.

Mantra Hotel in Brisbane.

“The Mantra is close to the Brisbane CBD and costed a little more than Port Macquarie but it will be a good investment. Already the Beetson Hotel has gone up in value.”

The NRL owns the Quest at Woolooware but doesn’t operate the hotel, leasing it back to Quest.

The four-star, 45-room Ibis attracted nine formal offers with a sale price of $344,444 per room and a 7.4 per cent initial yield. It is located on the beachfront headland at Stewart Street.

Ibis Styles Hotel in Port Macquarie. Picture: Instagram

This masthead has been told the property was exchanged and settled within eight weeks of initial expressions of interest.

There are suggestions that NRL may look to refurbish and rebrand the Ibis.

It is understood the Ibis deal was completed through brokerage agency HTL Property, whose managing director and co-founder is Andrew Jolliffe, a Sydney Roosters director.

The Mantra is believed to be the Mantra Terrace Brisbane, which was for sale. The Mantra Terrace underwent a full refurbishment in 2021 and offers 85 guest rooms.

All revenue streams within rugby league have increased. This from a game which ran at a loss of nearly $20m just nine years ago.

The 68-room Beetson Hotel on famous Caxton Street was acquired by the NRL in 2022.