In a significant move within the booming holiday park sector, the NRMA has acquired the Blue Dolphin Holiday Resort in Yamba from the Mitchell family for over AU$40 million. This purchase underscores the NRMA’s strategic expansion in the holiday park industry, providing diverse and affordable vacation options for its members.
Located at 31-65 Yamba Road, the Blue Dolphin Holiday Resort spans 5.82 hectares and boasts 300 meters of Clarence River frontage. The resort offers a variety of amenities, including cabins, caravan sites, a pool, a bar, a service station, and a boat ramp.
The acquisition price is confirmed at AU$40 million, with an additional undisclosed amount paid for the operating business, as reported by the Australian Financial Review (AFR).
The NRMA’s acquisition of the Blue Dolphin follows the recent purchase of the North Star Holiday Resort near Hastings Point on the NSW Tweed Coast for over AU$50 million. This sale set a new benchmark in the holiday park sector, highlighting the growing value and demand for such properties.
This deal also marks the second Yamba property that the NRMA has bought from the Mitchell family in the past six months. In December, the NRMA acquired the nearby Angourie Resort & Spa, a 66-key property, further strengthening its presence in the region.
The Mitchell family had owned and operated the Blue Dolphin Resort for 34 years, demonstrating a long-standing legacy in the local tourism industry.
Tom Gleeson from JLL, who brokered the sale, commented on the strong investment appeal of holiday parks. “With holiday parks providing attractive investment fundamentals of significant cash flow, large land holdings within desired locations, we expect the demand to only heighten moving forward,” he said, as quoted in the AFR report.
He said that over AU$140 million worth of holiday park assets had either settled, were under agreement, or were on the market in the first half of 2024.
The acquisition aligns with broader market trends, as recent data from advisers BDO indicated a surge in revenue at holiday and caravan parks over the summer. Between December and February, holiday parks generated an average revenue of AU$641,000, up 12% from AU$573,000 in the same period the previous year.
Occupancy rates also increased by 2 percentage points to 49%, driven by families seeking more affordable vacation options amidst rising cost-of-living pressures.
The NRMA, a member-owned organization specializing in insurance, accommodation, and roadside assistance, operates an extensive network of caravan and camping parks across Australia.
Their portfolio also includes boutique resorts like Cradle Mountain Hotel and Freycinet Lodge in Tasmania. The acquisition of the Blue Dolphin Resort enhances the NRMA’s offerings, ensuring a wider range of holiday options for its members.
As the holiday park sector continues to thrive, the NRMA’s strategic acquisitions position it as a key player in providing quality and affordable vacation experiences.
The Blue Dolphin Holiday Resort, with its prime location and comprehensive amenities, is set to become a favored destination for holidaymakers seeking a blend of relaxation and adventure in the picturesque setting of Yamba.
For more information about the Blue Dolphin Holiday Resort and the NRMA’s extensive network of holiday parks, visit their official website or contact the NRMA directly.
