Famed Cradle Mountain Lodge Tipped to Fetch $100m

One of Australia’s best-known luxury wilderness resorts, Cradle Mountain Lodge in northern Tasmania, has been put up for sale with hopes it will fetch about $100m.

The lodge, which was opened in 1971 as accommodation for fishermen and bushwalkers, has 86 cabins and suites on a 11.4ha landholding on the edge of the UNESCO World Heritage-Listed Cradle Mountain-Lake St Clair National Park.

The listing by the owner, listed funds manager Elanor Investors Group, follows Elanor’s recent refurbishment of the lodge, which is about a two-hour drive from Launceston, and comes at a time when domestic tourism in Australia is undergoing a resurgence.

The lodge is operated under Accor’s Peppers brand. Its accommodation spans contemporary cabins through to luxury suites, while guest facilities include an award-winning restaurant, tavern bar and bistro, alpine spa, as well as conference and event facilities. The lodge can be sold with vacant possession.

“After recently completing an extensive $10-million refurbishment program, we have received several off-market approaches by parties interested in acquiring the resort, prompting us to formally take Cradle Mountain Lodge to market,” Elanor Investors Group head of hotels, tourism and leisure Marianne Ossovani said.

▲ The interior of one of 86 cabins and spa suites in the recently refurbished lodge.

The lodge operates on a “paddock to plate” philosophy and sources most of its produce from within a 160km radius. Guests are drawn to the spectacular scenery and walking tracks in the nearby national park, as well as its unique flora and fauna.

The region’s tourism industry also stands to benefit from the Cradle Valley Tourism Development Plan, which is backed by state and federal governments and projected to increase visitor numbers by about 40,000 annually.

“Cradle Mountain Lodge is a significant tourist drawcard for domestic and international travellers,” CBRE Hotels’ Wayne Bunz said.

He is handling an international expression-ofinterest campaign on behalf of Elanor Investors Group. Submissions are open until October 21.

“More and more travellers are seeking out destinations with a focus on eco-tourism, health and wellness and sustainability, and are willing to pay a premium for these experiences,” Bunz said.

▲ The lodge was established in 1971 and is now operated by Accor’s Peppers brand.

“Opportunities to purchase once-in-a-generation assets like this are scarce, especially given the capital appreciation and proven income flow that will make this trophy asset even more attractive to investors.”

This listing follows the sale of several islands off the coast of Far North Queensland with eco-tourism potential. 

Annie Cannon-Brookes, wife of tech billionaire Mike, bought the abandoned tropical Dunk Island resort several months ago for about $25 million.

And Twiggy Forrest’s Tattarang bought Lizard Island for $42 million in late 2021.