Leasehold motels are high cashflow businesses, offering attractive yields, which have yet to re-rate from institutional demand.

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Australia is experiencing a mini boom in regional tourism, as a result of government initiatives and Covid, which allowed us to reacquaint ourselves with domestic travel.

Opportunity to improve the performance of previously family-run businesses by adopting superior financial management and best in class staff management.

Motels have proved to be very resilient businesses through economic downturrns and events like Covid. Significantly more so than accomodation like hotels and resorts.

Despite the continued strong growth in Australia's population, the number of motels in Australia has remained more or less unchanged for 30 years,

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The motel industry is still mostly run and owned by small private family operations, providing scope for consolidation.