Well Smart lists the Airlie Beach hotel for $40m as Queensland tourism demand builds
Singapore's Well Smart Group has put its Mantra Club Croc Airlie Beach hotel on the market with an asking price of around $40 million, capitalising on strong investor appetite for Queensland tourism assets.
The four-star, 159-room hotel sits on a 1.29-hectare freehold site on Shute Harbour Road in the heart of the Whitsundays region, linking Airlie Beach to Whitsunday Coast Airport. The property is being offered with vacant possession, giving a buyer scope to reposition, rebrand or install a new operating model.
Well Smart also owns the 511-room Lindeman Island resort in the Whitsundays, which is undergoing redevelopment. The group has appointed Marriott's Le Meridien to operate the long-dormant property, with reopening targeted for late next year.
CBRE Hotels national director Wayne Bunz, who is running the Club Croc Airlie Beach campaign, pointed to robust investment demand and a wave of net interstate migration into Queensland as key drivers. He said the market had absorbed no new hotel supply in a decade, while room rates and revenue per available room (RevPAR) had climbed strongly over the same period.
"Airlie Beach has undergone a fundamental repositioning over the past decade, with occupancy increasing from 55 per cent to 76 per cent and RevPAR more than doubling," Bunz told The Australian.
Expressions of interest for the hotel close in late August.
In Brisbane, agents HTL Property have sold the Madison Tower Mill Hotel in the CBD for approximately $28.6 million to South Korea's Kim family, who also operate Hotel Diana in Woolloongabba. Well Smart had held the Tower Mill since 2016; the original purchase price was not disclosed.
The 70-room pub, within walking distance of Brisbane's Golden Triangle, the 2032 Olympic precincts, Suncorp Stadium and Roma Street Parklands, drew more than 175 enquiries during the campaign, according to HTL Property's Nic Simarro, who negotiated the sale.
Simarro said accommodation assets carrying gaming entitlements remained tightly held and represented some of the rarest opportunities in the Australian hotel investment market.
"The combination of established accommodation income, gaming revenue and the ability to add value through active hotel operations is highly sought after. When assets of this calibre are brought to market, they attract interest from a broad cross-section of buyers," he said.
Jonathan Jackson, 16th July 2026
