Atlas Advisors Australia increases stake in domestic tourism despite closed border

May 20, 2021 2 min read

Atlas Advisors Australia increases stake in domestic tourism despite closed border

Leading wealth manager Atlas Advisors Australia is increasing its stake in tourism assets despite Federal Budget 2021 indicating the nation’s borders will not open until mid-2022.

Executive Chairman of Atlas Advisors Australia, Guy Hedley said Atlas Advisors Australia is seeking to expand its portfolio of tourism assets and diversify into tourism property via its strong partnership with Elanor Investors Group.

Atlas Advisors Australia is the sole coinvestor in the Elanor Wildlife Park Fund which consists of two iconic wildlife park assets: Featherdale Wildlife Park, in Western Sydney and Mogo Zoo in Batemans Bay on the NSW South Coast.

“Our strategy is to diversify into tourism property by acquiring high investment quality hotels, nature retreats, luxury resorts and other accommodation in metropolitan and regional areas,” Mr Hedley said.

“Assets that have additional potential to unlock value such as through the expansion of property, repurposing of under-utilised land or alternative uses presents opportunities for solid income and capital growth.”

Mr Hedley said the Australian Government could take immediate action to avert the eventuation of dire warnings from the tourism sector by restructuring the Business Innovation and Investment Program (BIIP) to boost investment in local businesses and venture capital.

Industry warnings that ongoing border closures would lead to many business and job losses would add to the impact on the economy of reduced immigration numbers, he said.

“Allowing a higher proportion of high-net worth migrant investors under the Significant Investor Visa, Investor Visa and Premium Investor Visa could bring in hundreds of millions of dollars to assist the recovery of the Australian economy,” Mr Hedley said.

“It would also counterbalance the disastrous impacts of falling immigration and international tourism numbers.

“There are queues of wealthy Hong Kong businesspeople keen to invest in tourism assets and to make Australia their new home.”

Mr Hedley said the longer-term outlook for domestic tourism was positive and many areas of the sector were resilient despite the impacts of COVID-19.

“Assets such as the Elanor Wildlife Park Fund invest in profitable tourism businesses and have performed relatively strongly throughout the pandemic,” Mr Hedley said.

“Nature-based tourism remains the fastest growing sub-sector of the tourism industry in Australia and around the world and we have no doubt they will experience strong growth in the medium and longer term.”

 

https://www.first5000.com.au/blog/atlas-advisors-australia-increases-stake-in-domestic-tourism-despite-closed-border/#



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