Prime resorts up for sale
AAP reports that property trust GPT Group has put its landmark tourism and hotel portfolio, featuring some of Australia’s key resorts, up for sale.
The group, which has been under pressure to sell assets after revealing a shock 27 per cent earnings downgrade this month and a cut in distribution, expects the sale will realise more than $900 million.
Its portfolio of hotels and resorts includes major properties such as the Ayers Rock Resort near Uluru and the Voyages Lodges portfolio of eco resorts that includes Lizard and Heron islands in Queensland, Cradle Mountain Lodge in Tasmania and El Questro Resort in Western Australia.
Staff were told of the decision yesterday and the sale was expected to be announced today, The Australian Financial Review reports.
The tourism portfolio comprises about seven per cent of the group’s overall assets but the resorts have underperformed in recent years and GPT recently slashed its guidance on earnings from the tourism assets for 2008 to $42 million from $57 million.
A Report by The Mole from AAP
John Alwyn-Jones
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Overseas travelers to the United States declined by 2.5% in 2025