Inside Regional Hospitality Broking with Rod Devlin. From Historic Pubs to High-Yield Motels
Inside Regional Hospitality Broking with Rod Devlin. From Historic Pubs to High-Yield Motels
When Rod Devlin sold a heritage weatherboard pub north of Albury for $360,000, it wasn’t just another deal. It was a revival.
Closed for years, the 1860s hotel reopened under new owners, quickly becoming the beating heart of the small town once again. “They’ve got their pub back,” Rod said with a quiet sense of pride.
For him, the mix of commercial acumen and community renewal captures why regional hospitality broking still matters.
A Career Rooted in Country Hospitality
Rod’s path into broking was, in many ways, inevitable. “My parents were hoteliers, so I grew up as the child of a publican,” he explained. Those early years behind the bar taught him the realities of hospitality long before he bought his first business. After working in pubs across both country and metropolitan areas, he moved into real estate in 1988 and never really left the sector.
He’s since owned and sold several real estate businesses before finding his natural fit in commercial and hospitality assets. “I’ve always had a penchant for commercial properties and businesses,” he observed. “That was more aligned to my skill set at the end of the day.”
Building a Regional Brokerage Hub
Today, Rod Devlin is Director and Business Broker for the Murray and Riverina region at CRE Brokers, the national specialist agency focused on motels, hotels, caravan parks and management rights across Australia. He operates from Albury, covering a vast cross-border patch of northern Victoria and southern New South Wales.
That connection gives his regional practice the credibility and reach of a larger network while keeping decision-making local.
Licensed on Both Sides of the River
Operating along the Murray means navigating two state jurisdictions and Rod has done the homework.
Originally licensed in Victoria, he later qualified as an agent in New South Wales, joined the Australian Institute of Business Brokers and became a Certified Business Broker. He also holds membership with the REIV, REINSW, AREI and the Australian Property Institute.
“I already had a fair accounting background as I’d done some study in that area and it just sort of went with it,” he said. That grounding in both finance and compliance underpins his credibility when advising clients on valuations, yields and deal structures.
Deals from Ski Shops to Historic Pubs
Although Rod describes CRE Brokers as “commercial real estate agents specialising in the hospitality businesses”, he occasionally ventures beyond that niche.
One example was the recent sale of a retail ski shop premises in Myrtleford, leased to a New York Stock Exchange-listed company. The $2 million transaction achieved a 7 per cent yield. He attributes that result to understanding both the tenant profile and the regional market.
Still, he’s clear about his focus. “Our bread and butter is pubs, motels, caravan parks, that type of thing,” he said. That includes deals large and small from 15-room motels to multimillion-dollar freehold going concerns under $15 million. His regional patch may be broad, but his specialisation is precise.
A Cross-Border Market in Motion
Rod says demand for hospitality assets remains strong, especially in New South Wales. “There is exceptionally high demand for both leasehold and freehold motel assets,” he explained. “Leasehold yields are very strong, and there’s high demand for profitable freehold motel assets.”
Most of his transactions sit below the $15 million mark, though the fundamentals remain the same: stable income and solid property underpinning. “Hospitality businesses have all been trading fairly well coming out the other side of COVID,” he said. “It’s probably stabilised a little since the highs of the post-COVID era, but they’re still very profitable businesses.”
Hotels, he added, are a market of their own. “There’s always a market for good hotels,” he emphasised. “But as with any business, if you’ve got an operator that’s not pushing their business to capacity, the result reflects that.”
Caravan parks are another area of opportunity. “They’re a bit of a sleeper,” he said. “From the outside you probably wouldn’t think they’re as strong a business as what they are, but they’re underpinned by the fundamentals of real estate and they’re good cash-flow businesses.” Demand comes from single-site operators through to syndicates and national corporate buyers.
Pubs, Motels and the Road Ahead
Looking ahead, Rod sees resilience in hospitality, even through tougher cycles. “Pubs seem to go well in recessions,” he highlighted. “People who might have gone out for fine dining drop back to mid-range, and those who went mid-range drop back to a pub style meal. People budget their entertainment dollars accordingly.”
He also points to practical policy measures like freezing the federal beer excise as small but meaningful supports. “Whether it’s Victoria, New South Wales, Queensland, South Australia or Tasmania, well-run pubs are well-frequented and strong businesses.”
The motel sector, he believes, has even brighter prospects. “I think the sky’s the limit for motels,” he said. “There’s overwhelming demand that supports asset prices regardless.”
With regional infrastructure projects expanding and strong “tradie custom” mid-week, coupled with tourist traffic on weekends, he sees both occupancy and profitability trending positively. “The future’s pretty bright for motels and caravan parks as well,” he added.
Lessons from the Long Game
After nearly four decades in real estate, Rod’s advice to aspiring brokers is pragmatic: “You have to be prepared to do the hard yards and you have to be patient.”
Reputation, he insists, is the real currency. “The old saying that fees come and go but your reputation lasts you a lifetime. That’s never been truer than in the current market and in this field.”
That ethos mirrors his own measured success. From a country upbringing to overseeing multimillion-dollar hospitality deals across two states, Rod Devlin has built a business on endurance, expertise and trust. In an industry where pub lights flicker and trends shift, his focus remains steady: helping regional operators buy, sell and thrive in regional areas.
Tags: business broker tips selling feature
About the author
