Kingfisher Bay Resort Village on Fraser Island up for sale

Kingfisher Bay Resort Village Pty Ltd has announced its Fraser Island products Kingfisher Bay Eco Resort, Eurong Beach Resort, Fraser Island Barges and Fraser Explorer Tours are up for sale.  

The 152-room Kingfisher Bay Eco Resort located on the western side of the island was developed in 1990 in partnership with Japanese owned Cosmos Australia and was opened in 1992.

The sale follows Cosmos Australia’s decision to withdraw from offshore businesses and focus wholly on Japanese operations. Kingfisher Bay Resort Village managing director Gary Smith said: “The Kingfisher Bay Resort Village group is in a strong financial position with negligible debt and strong cash flows. Cosmos Australia has been very happy with its involvement from inception of such an iconic and awarded project.”

Along with the resort, the group’s touring product Fraser Explorer Tours – which operates from Kingfisher and Eurong resorts, Hervey Bay and Rainbow Beach – along with the Eurong Beach Resort – located on the eastern side of the island – and the five vessels which make up Fraser Island Barges are up for sale.

The annual combined revenue among the businesses is estimated at $50 million.

The group has appointed agents Jones Lang LaSalle Hotels to market the businesses for sale by way of expressions of interest closing on April 14.

For further information contact Wayne Bunz at wayne.bunz@ap.jll.com

Comments


  1. JJ
    28 Mar 10
    9:00 pm
  2. good luck!

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