Australia’s Australian Retirement Trust (ART) plans to commit approximately A$200m (€124m) to holiday accommodation through its 95%-owned portfolio company G’day Group, expanding the superannuation fund’s exposure to the domestic leisure sector.
G’day Group will expand 12 of its regional Queensland Discovery Parks and Resorts to position the operator for the expected tourism boom in the lead up to the 2032 Olympic and Paralympic Games.
Ian Patrick, CIO of ART, said: “Our investment in G’day Group shows how our long-term investments can support experienced operators to expand and improve their regional assets, particularly in sectors like tourism where we see strong long-term demand.”
“The expansions aim to drive jobs and opportunities in these North Queensland regional areas, bringing benefits for communities and our members,” he said, adding the fund would continue to seek ways to invest at scale for members’ best financial interests and the broader economy.
Grant Wilckens, founder and CEO of G’day, said: “We have invested more than A$110m across regional Queensland over the last three years, including the acquisition of eco-tourism destination, Habitat Noosa, earlier this year.”
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