PRIVATE hotel investor Dr Jerry Schwartz has made his first investment in Queensland with the $70 million purchase of the five-star Hilton Surfers Paradise from the Chinese group, Ja Feng.
The Hilton Surfers Paradise (pictured) includes 169 rooms and 220 apartment-style residences along with four restaurants and bars, a spa, conference and function facilities, four pools, an outdoor deck area and car parking.
“I believe there is enormous potential for growing the hotel’s business,” said Dr Schwartz.
“I have great faith in the Gold Coast as Australia’s premier family, couples and groups market because its beaches, natural attractions, theme parks, events, restaurants and nightlife provide a complete tourism package that is attractive to both the domestic and international travellers.”
Dr Schwartz added that the destination is ideally positioned to “take advantage of the boom in international travel from Asia and the Pacific”.
“With Gold Coast and Brisbane international airports expanding their range of source markets, I thought it was the ideal time to enter the market,” he said.
The deal is expected to settle in May 2019, with Schwartz’s other properties including the Sofitel Sydney Darling Harbour, the Fairmont Resort in the Blue Mountains, Ibis Sydney King Street Wharf, Rydges World Square, Novotel Newcastle Beach and Crowne Plaza Hunter Valley.
Source: traveldaily