|Kerzner in bid for Hayman.|
Thursday, 29th August 2013
Source : External source
The billionaire South African hotelier, Sol Kerzner is reportedly buying Hayman Island in the Whitsundays from Malaysian investment firm Mulpha Australia Ltd.
The Australian Financial Review reports executives from Kerzner International are meeting with top federal and state tourism bureaucrats and senior figures from the Queensland government.
No price has been disclosed for the 292 hectare leasehold holding, but its most recent official conservative book value was $A50 million, at the same time as announcing a $50 million refurbishment program to elevate the resort into a new benchmark of luxury.
Neighbouring Hamilton Island sold in 2003 for $185 million to Bob Oatley who has since been developing the island.
Kerzner will reportedly close the existing resort on the island for three months from January next year as he further renovates the property.