Iconic Whitsundays property up for sale.
CBRE Hotels has just announced the sale of Daydream Island Resort & Spa, saying it’s “a unique opportunity to create a dream destination”.
An International Expressions of Interest campaign for the 4.5 star property is expected to attract “significant buyer interest” from Asian markets, CBRE said.
Owner Wayne Bullivant is reluctantly parting ways with the 296-room family-oriented island hotel due to ill health, with CBRE saying he is “realistic on current pricing levels”.
Daydream’s average yearly turnover is around $27 million, and in 2010 the replacement value of the exclusive use, vacant possession island was estimated at $157 million.
And although its current infrastructure is of “premium quality,” Daydream is also said to have significant development potential, with CBRE’s Wayne Bunz saying “you could refurbish, rebrand, reposition or redevelop other parts of the island in line with other nearby ultra-premium offers such as qualia on Hamilton Island, and One&Only Hayman Island”.
Expressions of interest will close on 06 November.
More details in tomorrow’s Travel Daily.