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More domestic asset acquisitions are on the horizon for Atlas Advisors Australia and Elanor Investors Group, which has announced the purchase of Hunter Valley Zoo near Sydney.
The $10 million deal settles on Wednesday when Hunter Valley Zoo joins Featherdale Wildlife Park and Mogo Zoo in the $60 million Elanor Wildlife Park Fund, of which Atlas owns 49 per cent.
Guy Hedley, executive chairman at Atlas, says nature-based domestic tourism is on the rise and wildlife parks represent a good investment opportunity, especially when located within easy access of major population centres.
He said it also made strategic sense to increase the genetic pool of the existing wildlife park business, enhancing its breeding base.
“Wildlife parks and zoos have remained resilient and profitable despite COVID-19 posing the greatest challenges the Australian tourism sector has ever faced,” Mr Hedley said.
“Individuals and families are keen for outdoor adventures that connect them with nature while also providing life-long educational experiences.”
Mr Hedley is also keen to buy tourism accommodation in partnership with Elanor Investors Group and said the companies are in advanced discussions about the best way forward.
“We are looking to take on more opportunities in this thriving tourism sub-sector while also expanding our asset portfolio to include nature retreats, luxury resorts and high-quality hotels,” he said.
“Domestic tourism feels like it’s in for a pretty good run for the next three to five years while people readjust their holiday preferences.
“We’ve decided that the next area of property looks like the regional and luxury hotel industry in Australia.
“So that’s our next thesis and where we’re going to deploy capital.
“All of that demand we’re seeing in all of our assets – Hunter Valley Zoo and the wildlife parks are great examples of that – just continues to underpin what we see as a long-term trend towards domestic tourism.
“And the obvious assets that are going to benefit from that are anything with a domestic tourism bent or accommodation.”
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