02 Mar 2026
Words The Hotel Conversation

Quest Bendigo & Quest Bendigo Central sold by ResortBrokers

ResortBrokers’ West Victoria agent Hugh Thomas has settled the sale in one line of Quest Bendigo and Quest Bendigo Central, establishing a new benchmark for Quest business transactions.

“The new benchmark reflected a premium of 10% against historical capitalisation rates and was achieved through an intensely competitive sales campaign,” Mr Thomas told The Hotel Conversation.

The portfolio sale comprises the 38-apartment Quest Bendigo on High Street and the 60-apartment Quest Bendigo Central on McCrae Street, located five kilometres apart and within an eight-minute drive of each other.

Mr Thomas said the transaction not only delivered a standout result for his client but also introduced first-time operators to two high-performing Quest businesses.

“I’m delighted to have achieved such a strong commercial outcome for my client and to see these exceptional accommodation assets transition to new operators entering the Quest network for the first time,” said Mr Thomas.

“ResortBrokers has been Quest Apartment Hotels’ preferred agency for more than a decade. Over that time, Quest operators have consistently entrusted us to sell their businesses because we understand the Quest model and what differentiates it. We’re proud to have transacted more Quest franchises than any other agency.”

Together, the two properties generated an FY25 net profit exceeding $1.2 million. Performance was underpinned by robust occupancy levels of 81% at Quest Bendigo and 79% at Quest Bendigo Central, well above Melbourne’s average of 70%.

Mr Thomas attributed the strong trading results to the hotels’ positioning and Bendigo’s status as one of Victoria’s most popular regional destinations.

Buyer demand for the dual offering was strong, with more than 100 enquiries received from across Australia.

“Operating both properties allows for meaningful operational efficiencies, marketing synergies and a complementary mix of mid-week corporate demand and weekend leisure trade,” said Mr Thomas.

“Both hotels have a long history of strong performance. We expect the new owners to enjoy many years of success ahead under the banner of the most successful brand in the apartment hotel space.” END