Alzburg Resort for sale after 38 years of ownership

29 January 2024

The Alzburg Resort, in the heart of the Victorian High Country, has been listed for sale by the Bono family who are retiring after 38 years of ownership.

Located at 39 Malcolm Street Mansfield, the 14,280sqm hotel and business is available with vacant possession and has a price expectation of circa $11 million. The sale includes an on-site ski hire operation with a large inventory of modern ski and snow equipment and daily tours on offer to guests throughout the ski season.

CBRE Hotel’s Scott Callow is managing the sale via an Expression of Interest campaign closing 4 March 2024.

The Alzburg Resort sits on a 1.428ha site with three street frontages and comprises 44 rooms which are made up of one and two-bedroom self-contained apartments, penthouse apartments and hotel spa rooms as well as function facilities, a swimming pool, two tennis courts and a one-bedroom manager’s apartment.

“Regional tourism has experienced significant growth over recent years, with the combination of short breaks and stay-at-home holidays,” Mr. Callow said.

“Being 200km from the Melbourne CBD makes Mansfield an ideal location for tourism and local conferences. It is a popular year-round location that combines all the demand that is associated with snow skiing in the winter along with a range of summer activities that include bush walking and cycling.”

“The high cost of construction of this asset type makes buying existing assets with established businesses attractive. We are expecting interest from a mix of private investor operations and smaller investment funds seeking stronger returns than generated from CBD and metropolitan assets.”