RACT swoops on iconic Tasmanian tourism assets
The Royal Automobile Club in Tasmania has swooped on a number of iconic regional tourism businesses in the state as part of its future long term growth strategy.
Among the assets purchased by the motoring group (known as RACT), include Strahan Village, Gordon River Cruises, Freycinet Lodge, and the Cradle Mountain Chateau from the Federal Group.
The purchase is part of the motoring group's key business objective to diversify its operational activities. Tourism is one area it wants to expand in.
RACT chief executive Harvey Lennon said “our research tells us there is strong interest in RACT-branded operations and our tourism division will provide us with new opportunities to generate revenue from outside our Tasmanian demographic, including opportunities to market to around 7 million affiliated auto club members across Australia".
Knight Frank managing director Scott Newton negotiated the transaction.