Holiday Inn Resort and Casino, which has long been a showcase piece is now up for sale. Pacific Advisory has placed the complex on the market but the valuation of the property is yet to be provided. South West Pacific Investments, which owns the casino resort, has decided to dissociate their ownership in the land and buildings. However, IHG will continue to manage the property according to a release by Pacific Advisory.
The resort has been operational for 25 years and has enjoyed a solid reputation as Vanuatu’s most successful tourism investment, partnering with leading hotel brands since opening. With so much development land to expand (18.5 hectares), a casino license and a growing tourism industry, the sale of this property is a golden opportunity to secure a sound investment.
The managing partner of Pacific Advisory, Glen Craig reported in a statement:
“We are honored 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 a significant upside with much of the 18.5 hectares ideal for future development. The operating casino is a large attraction as well for those investors wishing to target the growing gaming market.”
The resort has 157 room facilities set on 18.5 hectare of waterfront property. It also contains 10 waterfront bungalows, two swimming pools that were recently upgraded, a nine-hole golf course, two restaurants, two tennis courts, a café, and several bars.
Besides, the Resort is not crowded by the tourist industry, and a stable government and low tax rates make it ideal to draw both businesses and tourists. The presence of a day spa and casino gives the resort an added advantage of multiple income streams. Another added advantage is the fact that it is the perfect location for Asian, American, and European visitors. This actually seems to be a gold mine.
The access to Holiday Inn Resort and Casino is easy because of the airport at Port Vila which is serviced by six major international airlines, with flights coming directly from locations such as Australia, New Zealand, Fiji, and the Solomon Islands. The capital Port Vila is a thriving center and home to the country’s best restaurants, tours, hotels and resorts. A key financial center, Vanuatu attracts investment from all over the world with a number of international banks and offshore financial advisors in the country.
Vanuatu is pro-sustainable development and the government is investing in tourism, upgrading their two international airports – with the main airport in Port Vila, just 10 minutes from this property, to be Code-E opening up the potential for long haul flights within the next few years. The property also has a connected private island which adds to its aesthetic and touristic value.
Holiday Inn Resort and Casino is located on the shores of the magnificent Erakor lagoon, making it preferred not only for the family holiday market, but also for the corporate business traveler and gaming market. The property boasts a connected private island that provides privacy and still allows guests to be able to venture into the community, to shop and do some exploration.
It is expected that the casino resort will draw the attention of several top investors because it is located at Vanuatu, which is a top tourist destination in the Pacific.
Source: https://calvinayre.com/2019/10/25/casino/holiday-inn-resort-and-casino-in-vanuatu-for-sale/
