An icon of Tasmania's East Coast is on the market for the second time in three years.
The Scamander Beach Resort is expected to attract interest between $7 and $9 million after hitting the market this week.
Occupying premium real estate on the coastline between St Marys and St Helens, the 60-room hotel had been in a tired state before new owners Vision Hotel Group began a major renovation at the start of 2020.
"They're looking to reposition their investment funds into larger accommodation sites somewhere else," said Knight Frank's Charles Black, who shares the listing with John Blacklow.
"They spent two or three years doing it up, renovating it and getting the performance and management to where it's a highly profitable business in good condition.
"We've had some really solid interest, both local and mainland."
COVID has made for a quiet two years in the state's tourism market, but accommodation businesses have still been transacting.
In the past year Mr Blacklow has sold two accommodation sites in Rocky Hills, headlined by Hamptons on the Bay.
Formerly home to Japanese restaurant Kabuki by the Sea, the eight-unit site sold for around $3 million, while nearby Rocky Hills Retreat fetched $1.8 million in May.
A 51.7 acre residential property overlooking Binalong Bay sold for a ceiling-shattering $6 million over Christmas.
Mr Blacklow said Scamander Beach Resort, which he labelled "the biggest property on the East Coast", would provide an intriguing test case for the post-COVID market as tourism numbers return to normal.
"The accommodation sector was affected most by COVID with tourists not coming over," he said.
"A lot of these properties are just starting to recover and get back to where they were in 2019 prior to COVID."
Expressions of interest close November 11.
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