Syrian billionaire Ghassan Aboud said he was 'honoured' to be recognised for his pioneering foray into the hospitality sector with project commitments of $800 million.

More than half that sum is tied up in hotels in Cairns and the Port Douglas marina project.

“I am honoured to be recognised at this prestigious event as an international investor," Aboud said upon receiving the award.

"With the outstanding management team that we have in Sydney and Cairns, I am confident that Crystalbrook Collection will deliver exceptional customer enjoyment at some of the world’s most desirable destinations.”

In the hospitality sector, with an initial focus on Australia, Ghassan Aboud’s investments are being deployed in acquisition, development and management of prime hospitality assets. 

The assets include 5-star hotels, luxury apartments, marina operations and high-end retail.

Crystalbrook’s initial plans for Port Douglas included a luxury hotel, residential apartments and a retail complex predicted to cost more than $200 million. They recently withdrew the Development Application but are steadfast in their commitment to the project.

In addition to the hospitality portfolio, the group has also invested into a substantial pastoral business with land area of 35,000 hectares.

Aboud said the ultimate ambition of Crystalbrook Collection is to become a world class brand associated with unique lifestyle destinations.

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