Pacific Advisory is seeking expressions of interest for The Holiday Inn Resort and Casino in Vanuatu.
The vendors, South West Pacific Investments, are divesting ownership of the land and buildings, while IHG will continue to manage the property, Pacific Advisory said in a release. No valuation was provided.
“We are honoured to act for the vendors as exclusive advisors on this transaction,” said Glen Craig, managing partner of Pacific Advisory. “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.”
This 157 room, 18.5 hectare waterfront resort 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 along with a day spa and casino on site. It also boasts a connected private island.
Currently Port Vila is serviced by six international airlines with direct flights from Australia, New Zealand, New Caledonia, Fiji, Solomon Islands and PNG. The government and national carrier have embarked on a strategic marketing campaign to attract new lucrative markets including China and beyond.