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Elanor Hotel Accommodation Fund

Hotel accommodation fund targeting distributions of 9.2% in FY23

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Core Property has again reviewed the Elanor Hotel Accommodation Fund, the latest fund offering by Elanor Funds Management.

Established in 2021, the Fund invests in a diversified portfolio of hotel accommodation properties across Australia. Earnings have recently begun to recover as the sector emerges from COVID-19 lockdowns, with higher occupancy and spending reported across the portfolio.

The Manager is looking to expand the portfolio through the acquisition of two hotels – Estate Tuscany Hunter Valley NSW and Sanctuary Inn Tamworth NSW.

To help fund the acquisitions, the Manager has reopened the Fund and is seeking to raise $19.4M through the issue of 19.4M units priced at $1.00 per unit. The key aspects of the Offer include:

  • The acquisitions will expand the portfolio to 16 hotel accommodation properties valued at $380M, with a focus on the luxury and regional market segments.
  • Forecast distributions of 9.2% p.a. in FY23.

The Offer has a close date of 30 June 2022 and is available to wholesale and sophisticated investors.

Core Property continues to rate the Fund as RECOMMENDED.

Core Property Rating - Recommended

Fund Status - Open

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.