Aggressive expansion on the cards as Craig Ross takes sole ownership of Koala Adventures and Koala Adventure Island
Craig Ross has said he may make further acquisitions after taking sole ownership of Koala Adventures and Koala Adventure Island earlier this week.
Ross sold his share in the Airlie Beach Resort to his long-term business partner, who has also taken sole ownership of hostels in Noosa and Hervey Bay as well as Koala’s Fraser Island 4WD product. Nomads World Hotels recently bought the leases for the two hostels and acquired operational and marketing responsibilities for Fraser. Ross retains the Koala brand and intellectual property following the asset split as well as 150 acres of Daintree beachfront and 52 units in Cairns.
He has been having a series of meetings with key partners in Sydney this week along with former TNT UK sales director Justin Williams – now based in the US – who is consulting for the business.
Ross said: “The deal means I can drive a lot more opportunities, I’ve got no debt, I’m cashed up and I have a clear direction. I may look at floating and I can still see myself acquiring businesses down the track.”
He said meetings this week had been aimed at improving the company’s distribution network and forging relationships.
He added: “It’s not rocket science to see we’ve been all over the place for the last 12 months, now you’ll see massive changes. I am free now to focus on developing the business. I am also very grateful and thankful to the industry for sticking by me throughout this difficult period.”
Have your say