'Everything is for sale at some point': Resort in question
BREAKING: Is one of the Sunshine Coast's most loved resorts about to become part of the great Chinese buy-up of Australian assets?
That question is one expected to be answered soon as the Abacus Hospitality Fund, which owns the Novotel Twin Waters Resort, looks to divest its assets.
An Abacus spokesman said the resort's sale was included in a sell down strategy decided on two years ago with security holders.
Abacus Hospitality Fund is an unlisted retail fund.
"There is no active sales process," he said. "The intent is to sell down (the resort) at some stage."
Twin Waters Resort manager Warwick Kahl said he had received phone calls from members of the public about a sale to Chinese interests but said at this stage it remained an Abacus asset.
"As far as I know everything is for sale at some point," he said. "We have received calls about it."
Mr Kahl said there had been an increase in Chinese guests using the resort as a base to explore the greater Sunshine Coast.
The number was not significant but was coming off a zero base.
"People on their second or third visit to Australia are hiring a car and driving around to see the Coast and Fraser Island while using us as a base," he said.
"That's in line with a Visit Sunshine Coast strategy."
The resort hosted Queen Elizabeth and Prince Philip in an Overwater Lagoon Suite on their Sunshine Coast visit for the Commonwealth Heads of Government Meeting in 2002.
The four-star resort includes 361 rooms and suite accommodation including Resort Rooms, One- and Two-Bedroom Suites and 16 Overwater Lagoon Suites.
Abacus won Sunshine Coast Council approval last year to build 124 multiple dwelling units at the north east edge of the property.
An earlier form of the development project had been rejected by the Planning and Environment Court.