Vanuatu’s Holiday Inn Resort and Casino up for sale
The Holiday Inn Resort and Casino in Vanuatu is now on the market.
It is for the first time in 25 years that the country’s most renowned resort and casino complex is offered for sale by the South Pacific’s largest corporate advisory firm, Pacific Advisory.
Mirage News reports that the sale is as a going concern by way of International Expressions of Interest.
Vendors South West Pacific Investments are divesting of their ownership of the land and buildings whilst IHG will continue to manage the property.
Glen Craig, managing partner of Pacific Advisory says, “We are honoured to act for the vendors as exclusive advisors on this transaction. We infrequently have opportunities for investors to buy a large profitable resort in the South Pacific so this represents a rare opportunity. It has significant upside with much of the 18.5 hectares ideal for future development. The operating casino is a large attraction as well for this investors wishing to target the growing gaming market.”
With an established yet not crowded tourism industry; one of the last remaining tax havens and a stable government means that Vanuatu is attracting astute business investors from around the world.
Currently Port Vila is serviced by six international airlines where direct flights are available from Australia, New Zealand, New Caledonia, Fiji, Solomon Islands and PNG. The government and national carrier have taken on a strategic marketing campaign to attract new lucrative markets including China and beyond.
Port Vila is a thriving centre that is home to the country’s best restaurants, tours, hotels and resorts. A key financial centre, Vanuatu attracts investment from all over the world where a number of international banks and offshore financial advisors are located in the country.
Vanuatu is pro-sustainable development where the government is making a concerted effrt in investing In tourism. It is upgrading the country’s two international airports – with the main airport in Port Vila, just 10 minutes from this property, to be Code-E which will open up the potential for long haul flights to take place within the next few years.
A gateway to the Pacific
The country is considered the gateway to the Pacific with regular connecting flights to Asia, America and Europe.
This 157 room, 18.5 hectare waterfront resort is currently managed by IHG. The property has 10 over-water bungalows, two recently upgraded swimming pools, a nine-hole golf course, two tennis courts, two restaurants, a cafe and several bars and has a day spa and casino on location. With such facilities and a connected private island makes this property Vanuatu’s finest investment opportunity.
Set on the shores of the picturesque Erakor lagoon, the property is a favourite for family holidaying, corporate travellers and the gaming market thanks to its significant business centre, ballroom and casino on site.
The property has multiple income streams for buyers to consider where there is also significant room to further develop at least another 10 over-water bungalows and more than 20 family villas. Buyers can also take advantage of Vanuatu’s attractive strata title laws and sell managed villas in a holiday letting pool.
The Holiday Inn Resort and Casino has been operational for 25 years and has enjoyed a solid reputation as Vanuatu’s most successful tourism investment where it has partnered with leading hotel brands since opening.
With so much development land to expand, a casino license and a growing tourism industry, the sale of this property presents an exciting opportunity for buyers. With significant attention by investors from across the world, it is expected that this will result in an exceptional sale price for the vendor.