Bangkok’s Minor Hotels buys Lake Crackenback Resort in Snowy Mountains

Bangkok-based Minor Hotels has scooped up the famous Lake Crackenback Resort & Spa in a deal due to settle later this month.

The Lake Crackenback resort near Thredbo and Perisher has been sold to Minor Hotels.

Bangkok-based Minor Hotels has scooped up the famous Lake Crackenback Resort & Spa in a deal due to settle later this month.

The 4½ star resort has sold just as the first snows of the ski season have dumped on the nearby Thredbo and Perisher ski fields – a 15-minute drive away.

Minor Hotels, which bills itself as one of the world’s fastest growing hotel groups, will rename the 110-room resort Oaks Lake Crackenback.

All up, the resort has a capacity for 368 guests, with around 60 per cent of its customers aged under 40.

The vendor also has development approval for another 16 rooms. The marketing agents noted that 110 of a total of the resort’s 165 rooms are under resort management.

When it was listed last year the price guide for the resort was $4m to $4.4m. It delivered a $1.258m net return for the 12 months to June 2023, followed by a $1m net return the following year.

Lake Crackenback in the Snowy Mountains welcomes skiers and summer holidaymakers.

The vendor of Lake Crackenback, Bruce Marshall, owned the property for 22 years, and sold it through Resort Brokers agents Glenn Millar and Russell Rogers. The agents declined to comment.

Minor has purchased the letting rights plus some leasehold including the office reception building and housekeeping building. The sale price of the managed resort was undisclosed.

Positioned on the fringe of Kosciuszko National Park, the idyllic mountain resort is surrounded by pristine alpine landscapes.

“The stunning Snowy Mountains is a spectacular destination to explore all year round, and with travellers increasingly keen on domestic travel in the current climate, we are excited to add this unique property to our expanding portfolio,” said Craig Hooley, chief operating officer for Minor Hotels Australasia.

“This resort positions us well to tap into rising demand for wellness and experience-based travel, striking an ideal balance between scenery, relaxation, self-care and outdoor activities.”

Mr Hooley said that following the ski season, Oaks will introduce an integrated lobby space where guests and locals can enjoy barista-made coffee and baked goods.

“A grab-and-go pantry will also be stocked with local produce and travel essentials for a day exploring the Snowy Mountains,” he said.

The resort offers 110 fully self contained studios, villas and chalets.

The resort is just five minutes from the Skitube Alpine Railway providing direct access to Perisher and Blue Cow.

The resort offers 110 fully self contained studios, villas and chalets, designed in a range of configurations. Many have up to three bedrooms and include outdoor dining, fireplaces, large living areas and mountain and lake views.

An on-site shop provides a large range of equipment for hire, including skis and snowboards during the winter season, and mountain bikes and hiking gear throughout the summer months.

The property also features several meetings and events spaces with the venue spaces offering breathtaking views.

In a statement, Minor said this latest addition to the Oaks Hotels, Resorts & Suites offering underlines parent company Minor Hotels’ commitment to strategic growth in the Australasia region, after already welcoming six properties to its portfolio this year including the Oaks Melbourne St Kilda Road Hotel, Oaks Melbourne Flemington Suites, Avani Melbourne Jazz Corner Residences, Oaks Geelong Suites, Oaks Geelong Vue Suites, and Queen’s Wharf Residences in Brisbane.

In a statement Minor said that under the deal the Spa & Wellness Centre at the resort, as well as the Italian restaurant, Perrotta’s Italian & Bar, and Harro’s activity centre will continue to be independently operated.

Originally published as Bangkok’s Minor Hotels buys Lake Crackenback Resort in Snowy Mountains