Multinational set to buy Port Douglas resort
PORT DOUGLAS
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A BANGKOK based multinational is reportedly set to buy the QT Resort in Port Douglas.
It’s believed the Minor Group, who already own the Oaks Lagoons and The Coffee Club in town, will pay just over $19 million for the property.
Event Hospitality and Entertainment put the Port Douglas Road resort up for sale in May with vacant possession, meaning the new owners can easily rebrand the site.
The Minor Group, a hospitality, restaurant and lifestyle giant, is one of the worlds biggest hotel owners boasting the Marriot, Four Seasons, Oaks, Radison Blu and Antantara brands under its Minor Hotels stable.
It’s portfolio of 161 hotels spans across 26 countries through Asia, the Middle East, Africa, Europe and South America.
The QT Port Douglas was offered for sale less than three months ago by the ASX-listed Event, who reportedly spent $5.5 million transforming the property from the Rydges Sabaya to its QT brand in 2012.
The resort received some bad press and reviews from guests leading up to the sale with complaints about service and cleanliness.
It is one of nine QT Hotels in Australia and remains a popular spot for local events and leisure patrons in Port Douglas.
More to come...
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