Centre of attraction

This outstanding motel complex with restaurant and conference facilities, situated in a prime tourist location, combines substantial current returns with further growth opportunity.

As a couple of empty nesters rattling around a big house, Kaye and Brian Doyle were ready for a change of career and lifestyle. They looked for an opportunity in a vibrant tourist area with minimal seasonal variation, and found it in Turangi alongside the world famous Tongariro River. In purchasing Turangi Bridge Motel as a going concern they were able to tap into the NZ family holiday, adventure holiday, weekend, tourist and corporate trade, in an area famous for its trout fishing, boating, skiing, thermal pools, rafting and kayaking, golfing, mountain biking and walking. This is of course the gateway to Tongariro National Park. Being halfway between Auckland and Wellington the motel complex is a natural stopover point as well as a strategic location for conferences; while its fully licensed restaurant offers the only main road dining option other than fast food. The 30-unit motel (in multiple configurations) plus conference facilities and licensed restaurant is situated on State Highway 1, in an historic riverside location where there has been some form of accommodation business since 1931. Excellent management by Kaye and Brian and good staff support has resulted in a profitable business with high returns – also a high reputation, currently rating number one on Trip Advisor. The business has a very fair lease with 28 years still to run, plus right of renewal. The complex employs 18 staff under a mixture of casual and permanent part-time contracts. Annual revenue is currently in excess of $1,000,000 with excellent growth in recent years and a 34 per cent return on investment. A rolling upgrade programme has kept the complex and motel units in well-maintained order. The accommodation includes a two bedroom owner or manager’s apartment. The restaurant seats 78 with additional outdoor seating and an integrated bar area. The fully equipped kitchen with its excellent chef meals means that Kaye and Brian’s own kitchen remains mostly unused! Currently the restaurant opens for dinner and breakfast seven days a week. Breakfasts could be more widely promoted, and there is potential for a daytime cafe trade. Turangi is truly a town for all seasons with a mild climate and beautiful scenery. It continues to develop as the destination for all things outdoors. Apart from the fantastic lifestyle Kaye and Brian have loved meeting people from all over the world and being an active part of the Turangi community. The need to spend more time with an ailing parent is the reason for their decision to sell.