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Leisure Inn Penny Royal Hotel and Apartments to Remain in StayWells Portfolio

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StayWell Hospitality Group (StayWell), the owner and operator of the Park Regis and Leisure Inn brands, has confirmed that Leisure Inn Penny Royal Hotel and Apartments will continue to trade under the Leisure Inn brand and as part of StayWells growing portfolio.

 Following the purchase of the property by JAC Group, owned by Tasmanian property developer and winemaker Joseph Chromy, StayWell Hospitality Group entered into a long term lease agreement effective 28 June 2013.

Leisure Inn Penny Royal Hotel & Apartments Pty Ltd, a wholly owned subsidiary of StayWell Hospitality Group, will consequently continue trading without any disruption to existing guests, clients or suppliers.

CEO of StayWell Hospitality Group, Simon Wan, said, We are very pleased to enter into this lease arrangement and proud to be working in conjunction with the JAC Group. Retaining Leisure Inn Penny Royal as part of the StayWell portfolio is a very positive step for us as its always been one of our more popular properties. Its appeal is particularly due to the hotels history and unique charm; however we are aiming to improve the guests experience at the hotel by investing in refurbishing many parts of the property. In addition we are looking to revitalise the Penny Royal attractions adjoining the hotel site.

StayWell is currently expanding at a fast pace offshore from Australia in locations such as India, however, we are also actively seeking new opportunities domestically. This includes a potential property addition in Hobart to complement Leisure Inn Penny Royal in Launceston, Mr Wan added.

Leisure Inn Penny Royal Hotel and Apartments is a 72 room property located a 5 minute walk to Launcestons city centre and is adjacent to Cataract Gorge and the Tamar River. Facilities include an onsite restaurant/tavern and Gourlays Lolly Shop.

StayWells head office is based in Sydney, Australia and has a rapidly expanding portfolio with existing properties around Australian as well as in Singapore, Dubai, India and Indonesia. Further properties are opening shortly including in the United Kingdom and China.

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