Holiday Inn Resort and Casino, one of the top casino resorts in Vanuatu could soon have new ownership as the property has been put up for sale by Pacific Advisory.
South West Pacific Investments, which owns the casino resort are now to divest their ownership in the land and buildings. However, IHG will continue to manage the property according to a release by Pacific Advisory.
In a statement to the press, Glen Craig, the managing partner of Pacific Advisory, said: “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 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 casino resort hosts 157 rooms and sits on an 18.5-hectare land. The gambling facility also features 10 waterfront bungalows and two swimming pools, a nine-hole golf course, two restaurants, two tennis courts, a café, and several bars.
The price of the property is yet to be revealed. Vanuatu being a top tourist destination in the Pacific, it is expected that the casino resort will draw the attention of several top investors.
The Holiday Inn Resort and Casino also has a connected private island which adds to its aesthetic and touristic value.