The Julie-Anna Inn has sold for $7.5 million after surviving the pandemic and thriving as events return to Bendigo.
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Kristyn Slattery, who runs the motel with her parents Michael and Jennifer, said the decision to sell would allow her parents to re-retire.
"Mum and dad had been in retirement for 13 years," Kristyn said.
"Dad's was just a guiding hand and a backup support but COVID brought him back on the floor.
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"We restructured how, as a family, we have the business set up with the exit of my sister and her husband - it got too hard for (their) family of five during COVID.
"That brought (Mum and Dad) back on the floor with me 24/7 when they were meant to be in retirement."
The sale includes the lease for the business as well as the freehold on the land.
"There were no offers under our asking price," Michael said.
"The first day on the market we had three inspections and we had an offer on the table that afternoon and then an offer the next day.
"The second offer didn't (better) it financially but the terms were far better.
"We expected those (offers) because this place has never been offered as a complete package.
"We didn't expect perhaps to be that quick."
Michael and Jennifer have almost 30 years experience in the accommodation sector and ran the Julie-Anna Inn motel over two stints 2005 to 2009 and again 2016 until this year.
The Slattery family will hand over the business in October.
Kristyn is looking forward to taking a break before taking on her next challenge while Michael and Jennifer will go back to retirement.
"These guys have done it - with the exception of a bit of retirement in the middle - for almost 28 years," Kristyn said.
"I'll have a rest for three months to reset and recalibrate and decide what's next.
"I'll certainly stay in the hospitality or tourism industry but probably not as hands on as physically running a business."
Jennifer said it will be sad to leave but wished the incoming owners the best of luck.
Kristyn said the future looks bright for the accommodation sector after two tough years.
"We have a massive amount of pride from guiding the motel through COVID...but Elvis was the big bounce back and businesses really starting to get back interested."
Michael agreed that Elvis was just what Bendigo needed to move forward out of the pandemic.
"In Bendigo, I see so many stars coming on Bendigo Horizon. There's good times coming."
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