Travellers Group splashes out in Orange as regions lift

Travellers Group has bought the former Byng Street Boutique Hotel in Orange.

The private Travellers Group, run by a team including former UBS co-head of equity capital markets Alex Dignam, has swooped on the former Byng Street Boutique Hotel in the NSW centre of Orange as it expands its portfolio.

The Australian start-up accommodation group, backed by the deep-pocketed Wattlestone group, acquired the property at 62 Byng Street, Orange as part of its regional hotel strategy.

The group is led by ex-area general manager of Minor Hotels and Accor Craig Smith, Mr Dignam, and in partnership with Wattlestone, a private investment group owned by Queensland businessman, Andrew Northcott.

HTL Property directors Nic Simarro and James Carrick brokered the sale for the vendor, Denoc Holdings Pty Ltd.

Travellers has had a busy run this year with the acquisition of properties in Emerald, Queensland, and the regional NSW town of Dubbo, before taking the keys at the Orange property.

The hotel will relaunch under a new name in December.

The former Byng Street Boutique Hotel will relaunch under a new name in December, creating a new chapter that honours its legacy while enhancing the guest experience.

The hotel comprises 22 upscale rooms and suites spanning across the property’s original heritage wing to the architecturally designed contemporary extension.

“We’re excited to build on this property’s rich history, using our expertise to create an exceptional guest experience,” Mr Smith said. “We look forward to welcoming all guests, past and present, to the newly established hotel,” he added.

“The former Byng Street Boutique Hotel generated significant interest with seven written offers to purchase the freehold component; and three for the business,” Mr Simarro.

“This result illustrates a strong sign that there remains demand for core assets in key locations” he added.

Travellers Group has bought the former Byng Street Boutique Hotel in Orange

In July, Travellers Group bought the Bluegum located in Dubbo as part of plans to build up a premium regional portfolio. Dubbo has a strong mix of industries with government, healthcare, construction, education and agriculture being key drivers of the local economy.

In February, Travellers Group, acquired the Emerald Inn, the top accommodation asset in Emerald, Queensland. The regional city of services the mining and agriculture sectors along with government support, health and education facilities for the surrounding areas

Wattlestone is an active investment house and in May invested into ASX-listed Critical Minerals Group. In February, Wattlestone took an interest in European based, Covworld. The business provides a one-stop shop for shop front and vehicle visuals, managing installation and monitoring customers offline communication campaigns.