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Selling a tourism business

Industry advisors for travel businesses

Tourism businesses operate in a dynamic and competitive travel market. Nash Advisory works with owners to prepare for sale, engage the right buyers and deliver successful transaction outcomes.

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Visitor data and tourism industry insights

Australia's tourism industry has surpassed pre-pandemic levels and continues to grow. The sector contributes more than $300 billion to the national economy, equivalent to over 11% of GDP, and supports more than 1.7 million jobs. 

Domestic tourism remains the backbone of the visitor economy, accounting for the majority of total visitor spend. Regional areas capture a significant share of domestic expenditure, highlighting the importance of location and asset mix when assessing value. 

Merger and acquisition activity is strengthening as major operators pursue strategic acquisitions across accommodation, transport and experience-based businesses.

  • Domestic visitors account for the majority of total spend, with regional travel representing more than half of domestic expenditure.
  • International visitor spend has exceeded pre-pandemic levels, with growth led by China, Southeast Asia, the United Kingdom and the United States.
  • Hotel transaction volumes exceeded $2 billion in 2024, reflecting renewed investor confidence across tourism infrastructure.
  • Large operators continue to consolidate assets to expand experiences, secure market share and build scalable platforms.

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“Australia's tourism sector has demonstrated remarkable resilience and is now exceeding pre-pandemic levels. With domestic travel firmly re-established and international visitation strengthening, businesses in the tourism sector can increase market share through acquisition, or crystallise value through a sale or other liquidity event.”
Kieran Ellis
Kieran Ellis
Associate Director

AUSTRALIAN TOURISM SECTOR EXPERTISE

Unlocking value across the tourism industry

We advise tourism businesses across Australia on company sales, acquisitions and capital transactions. With deep industry insight and access to domestic and international buyers, we help owners manage complex processes and position their business to achieve premium outcomes.

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total enterprise value transacted
$
1.9
bn+
Total enterprise value transacted
Enterprise value in FY22
$
400
m+
Enterprise value in FY25
successful deals completed
63
Successful deals completed
Private equity bolt-on deals
25
Private equity bolt-on deals
Valued team members
22
Team members
Completed transactions per year
15
+
Completed transactions per year

Key factors affecting valuation

  • Customer mix and revenue diversification: A balanced mix of domestic and international visitors reduces revenue volatility and supports stronger valuation multiples.
  • Location and destination demand: Businesses operating in high-demand tourism regions or event-driven destinations often attract greater buyer interest.
  • Operating model and scalability: Franchise models, multi-site operations and documented systems demonstrate scalability and improve buyer confidence.
  • Investment and growth potential: Recent investment in assets, digital capability and service expansion can support higher valuations and signal future growth.

Client case studies across the tourism industry

Our specialist advisors have advised a range of Australian tourism businesses on sale strategies. We work closely with owners to run structured campaigns and maximise value.

What our clients say

Working with Nash was an absolute pleasure. They were at all times completely responsible and accountable to everything that we needed. Their strong financial acumen was incredibly important throughout the whole process. It was really important that they were able to truly articulate the value of the business in its current state and also look and really delve into the potential future alternate uses for the business…We were really happy with the interest that Nash generated. So we had multiple seriously interested parties, which created that competitive tension that you really need in a deal and was able to achieve the outcome that we wanted and that we expected.

Fiona Selby
Managing Director of Boneo Park

Working with Nash was an absolute pleasure. They were at all times completely responsible and accountable to everything that we needed. Their strong financial acumen was incredibly important throughout the whole process. It was really important that they were able to truly articulate the value of the business in its current state and also look and really delve into the potential future alternate uses for the business…We were really happy with the interest that Nash generated. So we had multiple seriously interested parties, which created that competitive tension that you really need in a deal and was able to achieve the outcome that we wanted and that we expected.

Fiona Selby
Managing Director of Boneo Park
Map of global buyers

Global Capabilities

Unlock a world of possibilities with Nash Advisory's global capabilities. Through our partnership with REACH, we provide unparalleled access to industry experts and local market connoisseurs across 30 countries.

Whether you're selling your business, merging, or seeking investment, our team of seasoned professionals crafts bespoke strategies tailored to your unique needs. Trust us to navigate the complexities of the global market, ensuring you achieve exceptional outcomes that reflect the true value of your hard work and dedication.

Global capabilities

The Nash Advisory advantage

Work with our directors

As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.

Real business experience

We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.

Network of buyers

Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.

Outcomes focused

We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.

Work with our directors

As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.

Real business experience

We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.

Network of buyers

Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.

Outcomes focused

We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.

Our advisory services for tourism businesses

View all services

Utilising our tourism industry expertise, Nash Advisory offers a full range of advisory services. Explore how we assist clients with valuations, divestments, mergers and acquisitions.

Selling a business

We provide expert guidance to help you prepare, market, and negotiate the best outcome for your business sale.

See how we do it

Business valuations

Our team delivers accurate, data-driven valuations to help you understand and enhance your business’s worth.

See how we do it

Business mergers & acquisitions

Our proprietary approach to business sales ensure you get the highest possible sale multiple for your business.

See how we do it
Sample toolkit

Your step-by-step blueprint for a successful business sale

Our blueprint for success outlines the full business sale process, from preparation to completion. Download the transaction document pack to understand what to expect and where we add value.

Download now

Tourism sector deals completed

Our demonstrated tourism transaction track record reflects our strong buyer relationships across the sector, delivering exceptional outcomes for our clients.

Logo of Pinnacle Travel Group
Completed deal:

Pinnacle Travel Group

Date:
July 1, 2025
Sub sector:
Luxury Cruising

Pinnacle Travel Group, a vertically integrated operator with over 40 years of tourism experience, delivers premium travel experiences across Western Australia. Its portfolio includes leading ferry services to Rottnest Island, award-winning coach tours, and seasonal adventure products.

Pinnacle Travel Group engaged Nash Advisory to assist with the strategic acquisition of Great Escape Charter Company, a luxury small-ship cruise operator in the Kimberley region. This acquisition complements Pinnacle’s existing ownership of Kimberley Quest, bringing together two of the region’s most respected expedition cruising brands.

Founded in 1999, Great Escape has built a strong reputation for exceptional service and bespoke small-group experiences. While continuing to operate independently, Great Escape will now benefit from Pinnacle’s shared services platform across marketing, sales, finance, HR and ICT, further strengthening Pinnacle’s operational base in Broome.

The transaction was led by Kieran Ellis of Nash Advisory.

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Logo of BIG4 Noosa North Shore
Completed deal:

BIG4 Noosa North Shore

Date:
June 1, 2025
Transaction type:
Selling a business
Sub sector:
Holiday Park & School Outdoor Education Camp

BIG4 Noosa North Shore is a multifaceted holiday park located in the pristine natural beauty of Great Sandy National Park, on Queensland’s Sunshine Coast. The Park is due to welcome over 30,000 guests in 2025 across its mix of glamping, caravan, camping, and fixed accommodation options. 

Total Adventures is a well-established school camp operator that runs programs both onsite at the Park and offsite at various locations across South-East Queensland. Total Adventures hosts more than 12,000 students annually.

The shareholders of BIG4 Noosa North Shore and Total Adventures engaged Nash Advisory to lead the sale process of 100% of the business. The transaction was led by Thomas Butler and supported by Kieran Ellis.

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Logo of Boneo Park
Completed deal:

Boneo Park

Date:
January 20, 2025
Transaction type:
Selling a business
Sub sector:
Leisure

Boneo Park, situated in Victoria’s Mornington Peninsula, stands as one of Australia’s leading equestrian event facilities. Spread across 318 hectares, it boasts exceptional amenities and natural assets, including:

  • Pristine Wetlands: Painstakingly restored to their natural state by the McNaught family.
  • Moonah Tree Woodland: The largest privately owned woodland of its kind in Australia.
  • Infrastructure: A modern restaurant and two commercial kitchens, 94 powered campsites and stables, multiple indoor and outdoor arenas. and amenities blocks and an administrative building.

The facility hosts prestigious world cup equestrian events with the wetlands attracting naturalists and bird watchers due to its ecological significance.

After nearly 20 years, the McNaught family decided to sell the property due to founder Fiona Selby’s desire to dedicate more time to her family and Olympic equestrian pursuits. Nash Advisory facilitated the sale through a global marketing campaign, securing the Solomon family as the new owners.

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Logo of Red Cat Adventures
Completed deal:

Red Cat Adventures

Date:
February 1, 2024
Transaction type:
Selling a business
Sub sector:
Adventure Tourism, Eco-Tourism

The Red Cat Adventures Group offers award-winning marine and land-based tourism experiences in the spectacular Queensland Whitsundays.

After the successful sale of a number of successful Australian tourism business’, the owners of the Red Cat Adventures Group approached Nash Advisory to assist in the divestment of their business. Nash was able to guide the owners through a complex business sale involving multiple business divisions whilst maintaining confidentiality of the transaction, a key concern of the Sellers as they did not want their staff and trade partners to be made aware until the transaction had been confirmed.

 The Red Cat Adventures Group was successfully sold to Sealink Marine & Tourism, a subsidiary of ASX-Listed Kelsian Group, in November 2023. The transactions was led by led by Lucas Couper and Kieran Ellis.

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Logo of Kimberley Quest
Completed deal:

Kimberley Quest

Date:
November 1, 2023
Transaction type:
Selling a business
Sub sector:
Luxury Cruising

Kimberley Quest is an award-winning adventure-tourism luxury cruise company based out of Broome, Western Australia. 

The owners of the business approached Nash Advisory in early 2023 wanting to pursue business’ in other industries having worked in tourism their whole professional lives and with a goal to move through to completion as quickly as possible. With the assistance of the vendors legal representation, Nash were able to navigate the highly complex regulatory environment, which included key considerations to state environmental bodies and aboriginal heritage protected areas.

The business was successfully sold to Pinnacle Travel Group in November 2023, led by Lucas Couper and Kieran Ellis.

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Logo of Lake Argyle Resort
Completed deal:

Lake Argyle Resort

Date:
April 1, 2022
Transaction type:
Selling a business
Sub sector:
Resort

Lake Argyle Resort is an iconic tourist resort located in the beautiful Kimberley region of Western Australia.

After being engaged by the owner in April 2021, Nash Advisory commenced a formal sale process, with a focus on choosing a buyer that would guarantee the longevity of the Resort. Lake Argyle Resort successfully sold to G’Day Group in early 2022.

The transaction was led by Lucas Couper, Tom Butler and Kieran Ellis, with Attwood Marshall acting as legal advisors.  

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Logo of Kimberley Quest
Completed deal:

Kimberley Quest

Date:
December 1, 2019
Transaction type:
Selling a business
Sub sector:
Tour operator

Kimberley Quest, an award-winning Luxury Adventure-Tourism Cruise Company providing expedition cruises in Kimberley, Western Australia, mandated Nash Advisory to assist in the 100% divestment of the business. As a successful remote tourism business based in Broome, Kimberley Quest offered a unique acquisition proposition for potential buyers and investors.

The Nash team spent time on the ground in Broome and out on the water understanding the intricacies of the business. This allowed us to strategically target the buyer pool and to find an investor who understood the dynamics of the operation and market, maximising the sale value for the owner. Led by Lucas Couper and Kieran Ellis, the sale was successfully executed in December 2019.

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Logo of Horizontal Falls Seaplane
Completed deal:

Horizontal Falls Seaplane

Date:
June 1, 2019
Transaction type:
Selling a business
Sub sector:
Tour operator

Horizontal Falls Seaplane Adventures, a Broome-based experiential tourism provider, engaged Nash Advisory to facilitate an expedited sale process on their behalf. Nash Advisory used its broad network and experienced team to accelerate the sale process, culminating in the sale of the business to Journey Beyond.

This process took just 6 months from the initial engagement date. The management team of Horizontal Falls Seaplane Adventures will continue post-sale for approximately 1 year to oversee the strategic direction of the business.

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Logo of Travellers Autobarn
Completed deal:

Travellers Autobarn

Date:
October 1, 2018
Sub sector:
Budget travel, youth travel

Travellers Autobarn, an Australian campervan and car rental business servicing primarily the budget youth backpacker market (BYBM) received an investment from the Swiss-based Diethelm Keller Group following a global search undertaken by our team, led by Lucas Couper and Sean O’Neill.

Given the specific characteristics of the business, it was important to find the right strategic growth partner to assist with the local and US expansion plans. Diethelm Keller is a privately held, diversified group with operations spanning household brands, real estate, and tourism and travel, including as the owner of STA Travel.

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Planning to sell a tourism business?

Every successful transaction begins with informed planning and a tried and tested process. Contact Nash Advisory to understand your options and develop a strategy aligned to your commercial objectives.

Meet our advisory team

Our senior advisors bring significant experience across the tourism and leisure industry. You will work directly with decision-makers who understand the sector and your objectives.

Advising tourism businesses across Australia

We work with tourism and travel business owners nationwide, providing comprehensive advice on strategic business sales, connecting companies with qualified buyers across Australia and internationally.

Our advisors travel across Australia to work with business owners on-site and manage transactions on the ground. We connect vendors with qualified domestic and international buyers, wherever they operate.

Latest insights from the travel industry

Stay informed with the latest industry research, market data and transaction trends. Our insights help business owners and investors make confident, evidence-based decisions.

Connect with Nash Advisory on LinkedIn

Follow Nash Advisory on LinkedIn for industry research, transaction updates and market commentary. Stay informed with timely insights from our advisory team.

Frequently asked questions

How big is the global tourism industry?

Globally, tourism is one of the largest economic sectors, contributing trillions of dollars to global GDP and supporting hundreds of millions of jobs. Recovery since COVID has been strong across key markets, with international visitor numbers increasing year on year. For Australian tourism businesses, global scale matters because inbound demand, airline capacity and international investment trends directly influence valuation and buyer appetite.

What are the current trends in the tourism industry?

Current tourism trends include growth in domestic travel, increased demand for regional and experience-based offerings, and renewed international visitation. Sustainability and responsible tourism are becoming more important to travellers and investors. Digital booking channels, dynamic pricing and data-led marketing are also shaping how businesses operate and attract visitors. These trends influence revenue stability, growth potential and transaction multiples.

How is a tourism business valued?

A tourism business is typically valued using earnings-based methodologies, adjusted for seasonality, revenue mix and capital expenditure requirements. Buyers assess historic financial performance, forward projections and risk factors such as customer concentration or reliance on key events. Market data, comparable transactions and industry research are used to benchmark appropriate valuation multiples.

When is the right time to sell a tourism business?

Timing depends on performance, market conditions and personal objectives. Selling during periods of revenue growth, strong visitor demand and positive industry sentiment can support higher outcomes. Owners should also consider capital investment cycles and succession planning for management. Early preparation improves negotiating leverage and buyer confidence.

Who typically buys tourism businesses?

Buyers may include strategic trade operators, private equity firms and high-net-worth investors. Some seek geographic expansion across state and territory markets, while others target complementary services to increase visitor spend. International investors may also pursue Australian tourism assets due to brand strength and long-term growth potential.

What documents are required in a tourism business sale?

A structured sale process usually involves an information memorandum, financial report analysis, confidentiality agreements, management presentations and due diligence materials. Clear documentation reduces risk and speeds up buyer decision-making.

How important is an advisory firm in ensuring the successful sale of a travel business?

An advisory firm is critical when a travel or tourism business is planning growth, restructuring or a sale. The industry is cyclical and shaped by visitor demand, regional performance and global conditions. Independent advice helps owners interpret market data and act with confidence.

During a transaction, advisors provide accurate valuation, manage buyer engagement and run a structured process. This reduces risk, protects confidentiality and improves commercial outcomes.

Talk to a senior advisor 

Tell us about your tourism business and your goals. We will review your enquiry and arrange a confidential discussion with a senior advisor.

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