Workers accommodation village sells for $15m
EMERALD's mine workers accommodation village, Coalfields Lodge, has been sold for $15m.
Discovery Holiday Parks chief executive Grant Wilckens said the company, owner of Blackwater's Bottle Tree caravan park, had settled on the facility as part of a business strategy to expand its exposure to Australia's booming mining sector and build long-term growth.
"Companies in the mining industry require reliable, full-service worker accommodation, and we're in a position to meet this demand," Mr Wilckens said.
"Traditionally, tourism has accounted for a majority of our revenue but by diversifying our offering in this way we can ensure continued business growth amid a slowing tourism sector."
The Emerald Coalfields Lodge, now re-branded as Discovery Parks - Emerald, caters specifically to the needs of the surrounding mining community with 185 ensuite and nine non-ensuite rooms, seating for more than 80 people in its restaurant, 120 car parks and an on-site gymnasium and laundry.
DHP is now well-positioned to secure further acquisitions and ensure corporate growth, Mr Wilckens added.
The DHP portfolio has more than 30 holiday parks, eight workforce accommodation parks and three lifestyle home villages.