MA Financial Group (MAF:ASX) announced the acquisition of the All Seasons Resort Hotel in Bendigo which would bring the hotel and property ownership together.

The All Seasons Resort Hotel has been acquired by the MA Bendigo Hotel Fund which would be a standalone unlisted fund managed by MA Hotel Management (MAHM).

RELATED: Bendigo hotel All Seasons sells for $24 million in 2017

MAHM also owns and operates the iconic Beach Hotel Byron Bay, acquired for $104m in February 2020, and the historic Taylor Square assets, that include Kinselas Hotel and the Courthouse Hotel, Darlinghurst acquired for $67 million in February 2021.

READ MORE:

MAHM chief executive Dan Brady said the transaction adds to the portfolio of assets.

"The All Seasons Resort Hotel is a high quality hospitality asset that aligns with the investment thesis of MA Hotel management," he said

"Located in a strong growth area of regional Victoria with a clearly visible culture and vibrancy that aligns to our hospitality values.

"The hotel sits on a large footprint offering multipurpose social, entertainment and accommodation facilities driving its presence as a community hub for the local and destination domestic tourist markets.

"Bringing the leasehold and freehold components of the property together is core tenement of our model and how value is driven for all stakeholders."

MA Financial Group announced it exchanged contracts to acquire the All Seasons Resort Hotel for $54.5 million, pre stamp duty and excluding transaction costs, representing a timely and deliberate move into the Victorian market and quality regional centre.

No future planning was outlined for the McIvor Road 35,572 square-metre site.

RELATED: All Seasons Hotel Bendigo plans $150,000 outdoor dining renovation for COVID-19 summer

"Our plan, like always, when operating All Seasons Bendigo will be to learn about the people, the customers and the Bendigo community, develop out a vision, apply our capital and empower a team of hospitality professionals to deliver an optimised locally authentic experience backed by wonderful positive social impact programs like Redcape's Publinc Communities program," Mr Brady said.

"After a tough period for hospitality in Victoria, we are thrilled to be commencing a relationship with the Bendigo community.

"We look forward to a positive social contribution as an experienced owner and operator of large format hotels with a clear focus on our value chain of driving high staff satisfaction which drives strong customer engagement and enriched community outcomes."

The All Seasons Resort Hotel is expected to settle from August 2021, subject to customary precedents.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:

Have you signed up to the Bendigo Advertiser's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in central Victoria.